South Africa Trade Deficit Widens in April

South Africa's trade deficit increased to 15.02B ZAR in April from 7.77B ZAR in March as 3 percent rise in exports was not enough to offset 12.1 percent surge in imports.
South African Revenue Service | Joana Taborda | 5/31/2013 2:01:01 PM
From March to April, exports increased by 3 percent, mainly due to higher shipments of mineral products (+4 percent) and base metals (+10 percent). Mineral products accounted for 26.5 percent of total exports, precious stones for 20.83 percent and base metals for 13.3 percent.

From March to April imports rose by 12.1 percent, due to increases in imports of mineral products (+22 percent); plastics and rubber (+20 percent); base metals (+11 percent); machinery and electrical appliances (+21 percent) and original equipment components (+10 percent). Machinery and appliances accounted for  24.6 percent of total imports and mineral products for 24.22 percent.

Trade deficit with Asia, Europe and Oceania increased, while with America declined. Trade surplus with Africa widened.

Year-on-year, exports increased by 25.4 percent and imports by 29.7 percent. The trade deficit widened to 15.02B ZAR in April of 2013 from 9.87 billion ZAR recorded in the same month last year.

The cumulative deficit for 2013 reached 57.01B ZAR compared to 36.62B ZAR in 2012. 

South Africa Trade Deficit Widens in April