Last year alone, the US accounted for close to 9% of total exports and 7% came from imports. In 2021, US exports to South Africa totalled $ billion a 25.8% increase from 2020, while US imports from South Africa totalled $ billion a 38.5% increase.
There are approximately 600 US businesses operating in South Africa and many use South Africa as their regional headquarters,1 and a springboard for greater opportunity on the African continent. Today I want to talk about monetary policy in the context of high inflation and an environment of low growth - conditions which are, unfortunately, normal for South Africa but now also feature globally.