South Africa Trade Surplus Widens in May

South Africa trade surplus increased to ZAR 3.52 billion from aun upwardly revised ZAR 1.17 billion in the previous month and below market expectations of a ZAR 5.9 billion surplus. Considering the January to May period, the country posted a trade deficit of ZAR 17.77 billion.

Exports jumped 16.0 percent month-over-month to ZAR 102.6 billion in May of 2018, boosted by vegetable products (56 percent); prepared foodstuff (32 percent); vehicles and transport equipment (29 percent); chemicals (28 percent) and mineral products (11 percent). Main export partners were:  China (9.4 percent of total exports), Germany (7.7 percent), the US (6.6 percent), the UK (5.4 percent) and India (5.3 percent).

Imports advanced 13.5 percent month-over-month to ZAR 99.1 billion, driven by higher purchases of vegetable products (135 percent); vehicle and transport equipment (26 percent); base metals (25 percent); original equipments components (15 percent) and machinery and electronics (9 percent). The most important import partners were: China (18.8 percent of total imports), Germany (10.1 percent), the US (5.7 percent), Nigeria (4.8 percent) and India (4.2 percent).

Excluding trade with neighboring Botswana, Lesotho, Namibia and Swaziland, the country recorded a trade deficit of ZAR 4.65 billion in May.

South Africa Trade Surplus Widens in May

South African Revenue Service | Stefanie Moya |
6/29/2018 12:22:22 PM