South Africa Trade Surplus Widens To 6-Month High in June

South African trade surplus increased to ZAR 5.80 billion in June of 2015 from a downwardly revised ZAR 4.94 billion surplus a month earlier, as exports expanded at a faster pace than imports.

Exports grew by 1.6 percent to ZAR 90.23 billion from ZAR 88.83 billion in May, mainly due to higher sales of vegetable products (+25 percent) and vehicles and transport equipment (+9 percent). Also, shipments of machinery and electronics and chemical products went up by 7 percent and 5 percent, respectively. In contrast, mineral products sales fell 5 percent.

Imports increased at a slower 0.7 percent to ZAR 84.48 billion from ZAR 83.89 billion in the previous month, as chemical products; and machinery and electronics purchases increased by 7 percent and 6 percent, respectively. Meanwhile, imports of vegetable products declined by 32 percent; mineral products by 14 percent; and vehicles and transport equipment by 7 percent.

So far this year, exports rose 4.3 percent while imports decreased by 0.3 percent when compared to the same period from last year. As a result, the trade deficit narrowed 47.3 percent over a year earlier to ZAR 24.65 billion from ZAR 46.77 million. 

Excluding trade with neighboring Botswana, Lesotho, Namibia and Swaziland, the country posted a ZAR 3.47 billion deficit in June.

South Africa Trade Surplus Widens To 6-Month High in June

South African Revenue Service |
7/31/2015 1:29:44 PM