South Africa Trade Balance Swings to Surplus in November


South Africa trade balance shifted to a ZAR 3.49 billion surplus in November of 2018 from a downwardly revised ZAR 4.29 billion deficit in the previous month and beating market expectations of a ZAR 2.25 billion gap. Considering the January to November period, the country recorded a ZAR 4.16 billion shortfall.

Imports dropped 8.4 percent month-over-month to ZAR 115.35 billion, mostly due to lower purchases of mineral products (-10 percent); chemical products (-9 percent); precious metals & stones (-56 percent); original equipment components (-23 percent) and vehicles & transport equipments (-9 percent). The most important import partners were: China (19.6 percent of total imports), Germany (9.5 percent), the US (6.4 percent), Saudi Arabia (4.8 percent) and Nigeria (3.9 percent).

Exports declined 2.3 percent month-over-month to ZAR 118.84 billion, mainly due to lower sales of vegetable products (-26 percent); prepared foodstuff (-9 percent) and vehicle & transport equipments (-13 percent). Meanwhile, sales increased for mineral products (2 percent) and chemicals (6 percent). Main export partners were: China (9.9 percent of total exports), Germany (8.5 percent), the US (7.0 percent), Japan (4.9 percent) and India (4.8 percent).

Excluding trade with neighboring Botswana, Lesotho, Namibia and Swaziland, the country recorded a trade gap of ZAR 6.40 billion in November.

South Africa Trade Balance Swings to Surplus in November


South African Revenue Service | Stefanie Moya | stefanie.moya@tradingeconomics.com
12/28/2018 12:19:57 PM