AGOA Status: South Africa is eligible for AGOA this year. It also qualifies for textile and apparel benefits.
Trade Agreements: The U.S. and South Africa signed a Trade and Investment Framework Agreement (TIFA) in 2012, which amends the United States-South Africa TIFA originally signed in 1999.
In addition, the U.S. and the Southern Africa Customs Union (SACU), which includes South Africa, signed a Trade, Investment, and Development Cooperative Agreement (TIDCA) in 2008. The TIDCA establishes a forum for consultative discussions, cooperative work, and possible agreements on a wide range of trade issues, with a special focus on customs and trade facilitation, technical barriers to trade, sanitary and phytosanitary (SPS) measures, and trade and investment promotion.
South Africa Trade & Investment Summary
U.S. goods and services trade with South Africa totaled an estimated $25.5 billion in 2022. Exports were $9.3 billion; imports were $16.2 billion. The U.S. goods and services trade deficit with South Africa was $6.9 billion in 2022.
U.S. goods exports to South Africa in 2022 were $6.5 billion, up 19.1 percent ($1.0 billion) from 2021 but down 14 percent from 2012. U.S. goods imports from South Africa totaled $14.6 billion in 2022, down 7.3 percent ($1.2 billion) from 2021, but up 68 percent from 2012. The U.S. goods trade deficit with South Africa was $8.1 billion in 2022, a 21.4 percent decrease ($2.2 billion) over 2021.
U.S. exports of services to South Africa were an estimated $2.8 billion in 2022, 27.7 percent ($612 million) more than 2021, and 1 percent greater than 2012 levels. U.S. imports of services from South Africa were an estimated $1.6 billion in 2022, 45.4 percent ($507 million) more than 2021, and 13 percent less than 2012 levels. Leading services exports from the U.S. to South Africa were in the travel, financial services, and intellectual property sectors. The United States had a services trade surplus of an estimated $1.2 billion with South Africa in 2022, up 9.6 percent from 2021.
U.S. foreign direct investment (FDI) in South Africa (stock) was $7.4 billion in 2022, a 11.9 percent increase from 2021. U.S. direct investment in South Africa is led by manufacturing, finance and insurance, and mining.
