South Africa Trade Balance Swings To Surplus in February


South Africa posted a trade surplus of ZAR 5.22 billion in February of 2017 compared to an upwardly revised ZAR 11.22 billion gap in January. Exports advanced 9.4 percent, due to higher sales of vehicles & transport equipment and machinery & electronics while imports went down 9.7 percent, mainly due to lower purchases of machinery & electronics.

Exports rose to ZAR 87.8 billion mainly driven by higher sales of vehicles & transport equipment (79 percent), machinery & electronics (25 percent), base metals (10 percent), plastics & rubber (33 percent) and prepared foodstuff (17 percent). Major destinations for exports were China (8.6 percent of total exports), Germany (7.9 percent), the US (6.7 percent), Japan (5.7 percent) and India (4.6 percent).

Imports declined to 82.6 billion, as purchases went down for: machinery & electronics (-18 percent), chemical products (-10 percent), plastic & rubber (-22 percent), base metals (-15 percent), vegetable products (-25 percent) and vehicles & transport equipment (-6 percent). Imports came mainly from China (18.3 percent of total imports), Germany (11.8 percent), the US (6.4 percent), Saudi Arabia (5.5 percent) and India (4.9 percent). 

Excluding trade with neighboring Botswana, Lesotho, Namibia and Swaziland, the country posted a trade gap of ZAR 1.2 billion in February. 

South African Revenue Service | Deborah Neves | deborah.neves@tradingeconomics.com
3/31/2017 12:57:05 PM