On the 2nd of July, Nils Flaatten, CEO of Wesgro, gave insightful views and figures on economic activity, trade and investment in the Western Cape and between the Western Cape and the rest of the world, including France.
The key points of his presentation were the following:
- The Western Cape's and South Africa's socio-economic profiles and trends are not significantly diverging. At the contrary, the Western Cape and South Africa's growth paces are highly correlated as the following graph highlights.
- The Western Cape's manufacturing and agricultural employment have decreased in the last few years, whereas services, trade and finance have grown and created jobs.
- The Western Cape has a trade balance at equilibrium excluding hydrocarbons, but relies heavily on imports of crude oil from Saudi Arabia, Nigera and Angola.
- Europe is still the Western Cape's first trade partner, but African, Asian and American countries have recently gained importance.
- The Western Cape runs a trade deficit with France.
- The main products exported to France are grapes and wine, citrus and other fruits and measuring instruments.
- The imports from France consist mainly of wooden barrels, aircraft pieces and refined hydrocarbons.
- France is the 5th provider of FDIs in the Western Cape. As the below table illustrates, France is particular presence in the renewable energy sector, especially solar power manufacturing and services.
Watch Nils Flatten's interview at Cap40:
Wesgro, the Western Cape Investment and Trade Agency, regularly publishes factsheets and comprehensive data on economic activity at a provincial, national and global level.
To access the factsheets concerning France, click on the following links
Wesgro Factsheet: Biotechnology Sector in France, SA and the Wester...
Wesgro Factsheet: Food and Beverages in France, SA and the Western ...
Wesgro Factsheet: France, SA and the Western Cape
To access other resources from Wesgro, visit : http://wesgro.co.za/publications/publication-directory