South Africa's textiles imports rise 8.6% in Jan-Aug 2024

11 Oct '24

1 min read

South Africa's textiles imports rise 8.6% in Jan-Aug 2024

Pic: Adobe Stock

Insights

Between January and August 2024, South Africa's textile imports rose by 8.6 per cent to $2,419.41 million, while exports fell by 2.1 per cent to $848.21 million.
In August 2024 alone, imports increased by 2.4 per cent, but exports declined by 5 per cent compared to August 2023.
These figures highlight strong domestic demand but challenges in exporting textiles internationally.

South Africa's imports of textiles and textile articles (under chapters 50-63) totalled 42,681.2 million Rand (~$2,419.41 million) between January and August 2024, according to preliminary data released by the South African Revenue Service in August 2024. This represents an 8.6 per cent increase compared to the same period last year.

Official merchandise trade statistics show that the country imported 39,308.9 million Rand worth of textiles and textile articles during the same period in 2023. South Africa remains a net importer in this product segment.

Exports of textiles and related products declined by 2.1 per cent, reaching 14,963.4 million Rand (~$848.21 million) in the first eight months of 2024, compared to 15,287.4 million Rand during the same period last year.

In August 2024, South Africa’s imports of textiles and textile articles amounted to 6,036.0 million Rand (~$342.16 million), an increase of 2.4 per cent compared to 5,895.1 million Rand in August 2023.

However, the country's exports fell by 5 per cent to 1,675.9 million Rand (~$95.06 million) in August 2024, down from 1,763.6 million Rand in August 2023.

These trade figures reflect strong domestic demand for textile products, although South Africa is experiencing challenges in exporting textiles and textile articles to the global market.

Fibre2Fashion News Desk (KUL)