South Africa Trade Surplus Largest in 6 Months


South Africa trade surplus widened to ZAR 12.0 billion in June of 2018 from an upwardly revised ZAR 3.84 billion in the previous month and well above market expectations of a ZAR 5.0 billion surplus. It was the largest trade surplus since December last year, as exports rose and imports fell. Considering the first half of the year, the country recorded a trade deficit of ZAR 1.79 billion.

Exports increased 7.1 percent month-over-month to ZAR 110.1 billion in June of 2018, driven by higher sales of precious metals and stonces (38.0 percent); base metals (13 percent) and vehicles and transport equipment (8 percent). In contrast, exports of mineral products fell (-6 percent). The most important export partners were: the UK (9.1 percent of total exports), China (7.9 percent), the US (7.0 percent), Germany (6.5 percent) and India (5.1 percent).

Imports dropped 0.9 percent month-over-month to ZAR 98.1 billion, mainly due to vegetable products (-51 percent); base metals (-9 percent) and machinery and electronics (-3 percent). On the other hand, higher purchases were recorded for mineral products (11 percent)n and original equipment components (15 percent). Main import partners were: China (17.5 percent of total imports), Germany (10.6 percent), the US (6.0 percent), Saudi Arabia (5.1 percent) and Nigeria (4.3 percent).

Excluding trade with neighboring Botswana, Lesotho, Namibia and Swaziland, the country recorded a trade deficit of ZAR 4.69 billion in June.

South Africa Trade Surplus Largest in 6 Months


South African Revenue Service | Stefanie Moya | stefanie.moya@tradingeconomics.com
7/31/2018 12:24:10 PM