South Africa has a new number one best friend after 23 years

• China has emerged as South Africa’s largest trade partner, after Europe held the title for over 23 years.
• The South African Reserve Bank noted the change in its Q2 quarterly bulletin and said that China now accounts for over a quarter of the country’s trade.
• South Africa’s trade surplus narrowed due to the rising value of goods brought into the country compared to the value of exports, due to higher global prices and a weaker rand.