The import of parts of electronic integrated circuits to South Africa stood at 2.25 million US dollars in 2023. For the forecasted period from 2024 to 2028, there is a consistent decline in import values. Specifically, there is a year-on-year decrease ranging from approximately 1.98% to 2.01%. For the last two years, the variation has been a decline of 1.85%. The compound annual growth rate (CAGR) over the five-year forecast period is approximately -2.00% per year.
Future trends to watch for:
- Technological advancements and shifts in the global semiconductor market that could impact South Africa's import needs.
- Changes in trade policies and tariffs that may influence the cost and volume of imports.
- Development in local manufacturing capabilities which might reduce dependency on imports.
