South Africa Trade Deficit Narrows to 7.77 billion ZAR in March from 9.7 billion ZAR in February


The reduction in the trade deficit from 9.7 billion ZAR in February of 2013 to 7.77 billion ZAR in March was due to a 2.9 percent increase in exports and a 0.3 percent decline in imports.

Exports increased from February to March by 1.81 billion ZAR (2.9 percent) and imports decreased from February to March by 0.19 billion ZAR (-0.3 percent). The reduction in the trade deficit to 7.77 billion ZAR in March was due an increase in exports of mineral products and base metals, and a decline in imports of mineral products and foot &

The February to March change (up by 2.9 percent) in exports of goods reflected increases mainly in mineral products (increased by 6 percent) and base metals and articles thereof (increased by 12 percent). Exports of precious and semi-precious stones and metals decreased 7 percent.
 
The February to March change (down by 0.3 percent) in imports of goods reflected decreases mainly in imports of mineral products (down by 18 percent) and in footwear, headgear, and articles made therewith (decreased by 52 percent). Imports of vehicles, aircraft and vessels increased by 33 percent; products of the chemicals or allied industries grew by 18 percent and original equipment components increased by 13 percent. 
 
Trade deficit with Asia declined, as exports climbed and imports fell.
Trade deficit with Europe and Oceania increased, as both exports and imports went up.  
Trade surplus with Africa increased, as exports climbed and imports went down. 
 
The cumulative deficit for 2013 is 41.84 billion ZAR compared to 27.57 billion ZAR in 2012.
 
Year-on-year, the trade deficit widened in March of 2013 to 7.77 billion ZAR from 5.51 billion ZAR recorded in March of 2012. Compared with the same month of the previous year, in March of 2013, exports grew by 4.3 percent and imports by 7.3 percent.

South African Revenue Service | Joana Taborda | joana.taborda@tradingeconomics.com
4/30/2013 2:23:28 PM