Cabinet notes resilient economy

Minister in the Presidency, Khumbudzo Ntshavheni, says the country’s exports tally of R184 billion in March 2023 shows that the economy remains resilient, despite the turbulence in the global economy.

“These significant amounts, although marginally lower than in March 2022, demonstrate how robust the South African economy remains, even in the period of low economic growth,” Ntshavheni said on Thursday in Cape Town..

During Wednesday’s Cabinet meeting, developments on trade matters were presented to members of Cabinet.

“The manufacturing sector was the best performing, contributing over R85 billion through our manufactured products, and the mining sector contributing R84 billion and agriculture R11 billion.

“A total of R41 billion of these exports are to other African countries, indicating the strides South African industries are making in broadening their markets across the continent.

“The markets where trade has increased include China, Belgium, Italy and the United Arab Emirates indicating the direct benefits from South Africa’s economic diplomacy,” Ntshavheni said. – SAnews.gov.za

Source: South African Government News Agency