South Africa imported goods worth $548 million from Russia in 2022, but exported just $283 million. The current import trade deficit with Russia worries local businesses.
In 2022, South Africa imported goods worth $548 million (about R10 billion) from Russia – most of that chemicals and fertilisers – but exported just $283 million, most of which was citrus fruit . The current import trade deficit with Russia worries many local businesses, who wanted greener trading pastures in Russia .
Speaking at the country session of St Petersburg International Economic Forum (Spief) in Sandton last week, Brics Business Forum members Stravos Nicolaou and Elias Monage stressed the need for a special focus on changing the import-export ratio between the two countries, if SA is to benefit from their relationships
South Africa Russia Import Export Trade Deficit Chemicals Fertilisers Citrus Fruit Brics Business Forum
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