Trade between Iran and South Africa is marginal despite historical political ties.
Image: ChatGPT
Trade between South Africa and Iran remains limited, more than a decade after Pretoria halted crude oil imports from the Middle Eastern country, despite historical political ties.
The latest trade data shows South African exports to Iran were valued at about $19.6 million in 2024, declining to roughly $6.1 million in 2025.
Exports include meat and edible offal, gums and resins, optical and medical apparatus, and machinery.
Imports from Iran are smaller. South Africa imported goods worth about $3.7 million in 2024. These included vehicles, edible fruit and nuts, machinery and carpets.
At its peak before 2012, Iran was one of South Africa’s key crude oil suppliers, at times accounting for more than 40% of local oil imports.
In 2012, sanctions linked to Iran’s nuclear programme led South Africa to stop buying Iranian oil and source supply elsewhere. South Africa has opposed these sanctions and, in August 2023, a cooperation deal was signed between foreign ministers of Iran–South Africa to develop and equip five refineries in the African state.
Under the agreement, the Iranian Oil Ministry will help to develop five refineries in South Africa by exporting technical and engineering services.
Sasol previously held a 50% stake in the Arya Sasol Polymer Company, a joint venture with Iran's Pars Petrochemical Company, which it sold in 2013.
The current war in Iran, which has seen the US and Israel launch a major coordinated military offensive over that country’s nuclear ambitions, has led to oil prices shooting up, with brent crude at $82.45 a barrel, when yesterday it was hovering below $80.
Although Iran does not rank among South Africa’s top trading partners, the countries share historical bilateral relations with Iran having supported the South African liberation movements.
In 1979, Iran severed official relations with South Africa and imposed a trade boycott in protest against the country's apartheid policies. However, in January 1994, Iran lifted all trade and economic sanctions against South Africa and diplomatic relations were later reestablished.
In comparison, trade with major partners such as China, the United States and the European Union runs into the billions of dollars annually.
IOL BUSINESS