South Africa Trade Deficit Widens in July


South African trade gap increased to ZAR 6.88 billion, up from an upwardly revised ZAR 0.47 billion deficit in June, as imports rose at a faster pace than exports.

Exports increased 6.8 percent month-over-month to ZAR 85.37 billion. Shipments of mineral products rose 23.8 percent; sales of vegetables were up by 20.7 percent and outflows of precious metals and stones increased by 7.9 percent. Sales of base metals decreased 6.6 percent. 

Imports soared 14.7 percent over the previous month to ZAR 92.26 billion. Imports of vehicle components rose 23 percent, purchases of chemical products rose 17.4 percent and inflows of vehicle and transport equipment rose 15.7 percent. 

The cumulative deficit for 2014 is R55.49 billion compared to R41.11 billion in 2013.

South Africa Trade Deficit Widens in July


South African Revenue Service | Nuno Fontes | nuno@tradingeconomics.com
8/29/2014 1:16:54 PM