South Africa Posts Trade Surplus in February

South African trade balance turned into a ZAR 1.72 billion surplus in February of 2014, after a large ZAR 17 billion gap in January, as exports surged 7.9 percent over the previous month and imports fell sharply by 13.2 percent.

Exports rose to ZAR 83.97 billion, boosted by sales of vehicles and transport equipment (+49.4 percent mom); machinery and electronics (+21.2 percent mom); base metals (+7.9 percent mom) and chemical products (+16.6 percent). In contrast, shipments of precious metals and stones fell 8.0 percent over the previous month.

Imports declined to ZAR 82.2 billion, mainly due to lower purchases of machinery and electronics (-27.0 percent); mineral products (-16.6 percent); chemical products (-13.7 percent); vegetable products (-50.0 percent) and plastics and rubber (-18.9 percent). Imports of vehicle and transport equipment rose 13.4 percent on a monthly basis.  

The trade surplus with Africa increased to ZAR 13 263 million. The trade gap with America, Asia, Europe and Oceania narrowed in February. 

South Africa Posts Trade Surplus in February

South African Revenue Service | Joana Taborda |
3/31/2014 12:33:36 PM