Bilateral trade flows between South Africa and the BRICS member states, 2011 – 2015
Bilateral trade flows among the BRICS member states thus far have contributed mutually between the progressions of each country and continue to. Nevertheless, South Africa‘s economy does not allow it to continue lagging behind its alliance partners. South Africa needed to be robust when it comes to the trade agreements with the group, since South Africa‘s economy has been scrabbling in growth in the past few years. With South Africa‘s economy still experiencing pressure from the global economic slowdown and domestic structural bottlenecks including labour unrest, unemployment remains high especially among young Africans and income inequality has increased. Economic growth has been volatile as the country has had to cope with the consequences of global crises. With all of these challenges the country is facing, one can only ask about where the aid of the BRIC countries is. Conversely, South Africa‘s role as the member of BRICS still remains cognisance. The bilateral flows of BRICS countries still remain largely influenced by the gains of China, however with time, the export and import performance continue increasing the volume of trade of each BRICS country, which also alone increases each country‘s economic activities like the FDI and the in-flow and out-flows of imports and exports industry.1 The BRICS countries today present an opportunity as new growth poles in a multi-polar world. As demonstrated during the global crisis when they played a pivotal role by recovering fast from the crisis; more than just that, the BRICS countries as a unit carry the capacity of changing the world on account of both the threats and the opportunities they present economically, socially and politically.2 Analysts and international agencies suggest and advice that investors should pay careful attention to the opportunities offered by BRICS member states and the impact and influence they carry globally.
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