Following on from the exports post, it only makes sense to follow it with the visualisation of South African imports:
[advanced_iframe securitykey=”5cafefb8534b62f444e4a460ac07c2e385bd9308″ src=”http://atlas.media.mit.edu/en/visualize/embed/tree_map/hs92/import/zaf/all/show/2015/?controls=false” width=”560″ height=”315″ ]
Here’s a static version, in case it’s not showing up in your browser (you can also check it out here):
I know it’s old news: but it’s pretty clear that we import a lot of refined metal products. And most of our exports are metallic ores.
Seems like a waste, doesn’t it? Although those are the kinds of outcomes that you get when the labour is cheaper elsewhere. The miners may have no choice, because they have to mine where the product is. But manufacturers can take their product across the world.
Just a Friday morning thought.
Rolling Alpha posts opinions on finance, economics, and sometimes things that are only loosely related. Follow me on Twitter @RollingAlpha, and on Facebook at www.facebook.com/rollingalpha.