South Africa's textiles imports rise 8.4% in Jan-Sept 2024

06 Nov '24

2 min read

South Africa's textiles imports rise 8.4% in Jan-Sept 2024

Pic: Adobe Stock

Insights

Between Jan-Sept, South Africa's textile imports rose by 8.4 per cent to 48,323.5 million Rand ($2,756.52 million) compared to the same period in 2023.
Exports, however, declined by 0.8 per cent to 16,825.9 million Rand ($959.76 million).
In September alone, imports fell by 6.8 per cent year-on-year, while exports increased by 11.2 per cent, signalling a shift in trade dynamics from August 2024.

South Africa's imports of textiles and textile articles (under chapters 50-63) totalled 48,323.5 million Rand (~$2,756.52 million) between January and September 2024, according to preliminary data released by the South African Revenue Service in September 2024. This marks an 8.4 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 44,585.4 million Rand. South Africa continues to be a net importer in this product segment.

Exports of textiles and related products declined by 0.8 per cent, amounting to 16,825.9 million Rand (~$959.76 million) in the first nine months of 2024, compared to 16,955.3 million Rand during the corresponding period in 2023.

In September 2024, South Africa's textile and textile article imports stood at 5,625.9 million Rand (~$320.87 million), reflecting a 6.8 per cent decrease compared to 6,038.8 million Rand in September 2023.

However, the country's exports rose by 11.2 per cent to 1,863.7 million Rand (~$106.27 million) in September 2024, up from 1,675.3 million Rand in September 2023.

These trade figures suggest a shift in the global trade trend for textiles from August 2024, with imports declining and exports increasing in September 2024. Nonetheless, cumulative data from January to September 2024 shows an increase in imports and a slight decline in exports of textile products.

Fibre2Fashion News Desk (KUL)