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Loss of trade with the EU and US as its neutrality becomes ‘seemingly compromised’ will cost SA dearly, says economist
08 June 2023 – 18:34 Adelaide Changole
SA stands to lose up to $32.94bn (about R612.7bn) in export revenue, almost a 10th of its GDP, should some of its main trading partners retaliate against its unwillingness to take a stance against Russia’s war in Ukraine.
“Together, the EU and US account for 30.4% of total exports by South Africa”, compared with Russia’s 0.23%, or 0.07% of GDP, said Ndivhuho Netshitenzhe, an economist at Stanlib Asset Management, an investment manager with more than R650bn in assets under management…
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