March 2024

08 March 2024 – Amidst a backdrop of global turmoil, 2024 is likely to be one of the most volatile years for geopolitical risk in decades. As tensions continue to escalate, with ongoing conflicts in Eastern Europe and the Middle East, the Western Cape’s trade and investment agency, Wesgro, finds itself operating in increasingly challenging […]

7 March 2024 – Based on the statistics, South Africa narrowly escaped a recession, thanks to real gross domestic product increasing by 0,1% in the fourth quarter of 2023, following a 0,2% contraction in the third quarter of 2023. Year-on-year, the economy grew by 0,6%, which is slower than last year’s rate of 1,9%. Six

6 March 2024 – In the past six months the International Trade Administration Commission (Itac) has initiated the lowest number of tariff investigations brought by the private sector in 21 years, which has a dire economic impact, according to XA International Trade Advisors. In its fourth import duty investigation report launch, XA has warned that

5 March 20224 – The South African Revenue Service (SARS) released trade statistics for January 2024, recording a preliminary trade balance deficit of R9.4 billion. The deficit is attributable to exports of R144.3 billion and imports of R153.7 billion, inclusive of trade with Botswana, Eswatini, Lesotho and Namibia (BELN). Export flows decreased in January, driven

04 March 2024 – THE Absa Purchasing Managers’ Index (PMI) improved in February into expansionary territory, following a very poor start to the year, rising from 43.6 to 51.7 points – better than expected. While the index showed resilience in February, it did need to be qualified – business activity remained more subdued, Absa said.