Top trading partners of south america
According to the CIA Factbook, South Africa's top trade partners in the year 2012 are:
Exports:
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Imports:
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These areas that South Africa trades are not necessary close geographically to make things an easy trade. But these five places listed about are relativity large and do produce and do a lot of business as it is. South Africa does need strong traders just because it is still an developing country. On the map below you can see how south Africa trades in a visual way to their top importers and exporters.
Trade agreements
South Africa does have a trade agreement with the European Union. The trade is called the "Development and Co-Operation agreement." (FDCA) (ec.europa) So it is free trade that covers 90% of trade between the European Union and South Africa. I think this trade has been beneficial for South Africa because it has increased their trade factor. This also gives more organization and more solid place to do trades with. Then there are also two other trade agreements that focus on South Africa and its development. Which are Southern African Customs Union (SACU) and the Southern African Development Community (SADC).
Top imports and exports
Exports:
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Imports:
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Does the pattern of trade make sense?
Yes this trade pattern does make since because of how much natural resources and they seem to export and import a lot of it. This makes then have a comparative advantage, especially on things like gold. So for their disadvantage would be that they don't have refined products and that's what they import a lot of those products.
Economic sanctions
Economic sanctions are there to either "punish, deter, and to rehabilitate." (econlib), which was the time period of Apartheid. Currently South Africa isn't targeted but it sure used to be. Starting in 1985, it was targeted by Europe and the British Commonwealth. It was finally over for South Africa in 1991.