South Africa Trade Surplus Widens In March

South Africa posted a trade surplus of ZAR 11.4 billion in March of 2017 compared to a downwardly revised ZAR 4.78 billion surplus in February. Exports advanced 16 percent, due to higher sales of precious metals and stones, vehicles & transport equipment, machinery & electronics and mineral products. Imports went up 8.9 percent, driven by purchases of machinery & electronics, vehicles & transport equipment, optical photographic products, and original equipment components.

Exports rose to ZAR 101.2 billion, mainly driven by higher sales of vehicles & transport equipment (19 percent), machinery & electronics (27 percent), precious metals and stones (33 percent), chemicals (17 percent) and mineral products (8 percent). Major destinations for exports were Germany (8.8 percent of total exports), China (8.7 percent), the US (6.2 percent), India (4.6 percent) and Botswana (4.4 percent).

Imports increased to 87.79 billion, as purchases went up for: machinery & electronics (18 percent), vehicles & transport equipment (41 percent), optical photographic products (30 percent) and original equipment components (12 percent). Imports came mainly from China (15.3 percent of total imports), Germany (14.7 percent), the US (8.6 percent), India (5.2 percent) and Saudi Arabia (4.9 percent) 

Excluding trade with neighboring Botswana, Lesotho, Namibia and Swaziland, the country posted a trade surplus of ZAR 3.5 billion in March, compared to ZAR 1.6 billion gap in February. 

South African Revenue Service | Yekaterina Guchshina |
4/28/2017 12:16:16 PM