Logistics delays to the supply chain cost our economy between R100 million and R1 billion per day 💸
It said research shows that logistics delays to the supply chain cost our economy between R100 million and R1 billion per day.However, it said, when calculating the total economic cost, the final impact is far higher and more devastating than that.
Dr Juanita Maree, chief executive officer of Saaff said that according to the latest SARS merchandise stats, R343 billion worth of goods were traded in August. If we consider that 70% of merchandise is processed via the ocean modality, the current inactivity blocks more than R8 billion worth of goods each day. Combined with the ripple effect, the impact is more than the country can absorb, given the current economic climate.
The unintended consequences of the port strikes will be far worse than our energy crisis if left unattended, as the shock to our economy could not have come at a worse time.“However, the economic loss has a ripple effect on the economy, resulting in further foreign revenue loss at a time when our balance of trade is steadily deteriorating.She said international trade remains an essential driver of economic growth and development — and, importantly, job creation.
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