South Africa's textiles imports rise 11.3% in Jan-Oct 2024

05 Dec '24

2 min read

South Africa's textiles imports rise 11.3% in Jan-Oct 2024

Pic: Adobe Stock

Insights

Between January-October, South Africa's imports of textiles and textile articles rose by 11.3 per cent to 55,322.8 million rand, reflecting a substantial increase from the previous year.
During the same period, exports also grew slightly by 1.0 per cent, highlighting the country's status as a net importer in this sector.
Notably, both imports and exports experienced significant gains in October.

South Africa's imports of textiles and textile articles (under chapters 50-63) totalled 55,322.8 million rand (~$3,050.70 million) between January and October 2024, according to preliminary data released by the South African Revenue Service in October 2024. This marks an 11.3 per cent increase compared to the same period last year.

Official merchandise trade statistics reveal that during the same period in 2023, the country imported textiles and textile articles worth 49,686.4 million rand. South Africa continues to be a net importer in this product segment.

Exports of textiles and related products edged up by 1.0 per cent, amounting to 19,147.1 million rand (~$1,055.85 million) in the first ten months of 2024, compared to 18,959.8 million rand during the corresponding period in 2023.

In October 2024, South Africa's textile and textile article imports stood at 6,997.2 million rand (~$385.85 million), reflecting a 24.3 per cent increase over the imports of 5,627.1 million rand in the previous month, September 2024.

The country's exports under the same chapters rose by 24.7 per cent to 2,322.3 million rand (~$128.05 million) in October 2024, up from 1,862.9 million rand in September 2024.

These trade figures suggest high growth in October 2024, in contrast to the slower growth seen in the trade in September 2024. South Africa's imports and exports of textile products have shown growth both in the latest month and cumulatively from January to October 2024.

Fibre2Fashion News Desk (KUL)