South Africa Trade Deficit Widens to 7-Month High

In August of 2013, South African trade deficit widened to 19.05 billion ZAR from 13.38 billion ZAR in the previous month, due to a sharp fall in shipments of mineral products.

From July to August, exports went down by 7.6 percent. Shipments of mineral products decreased 23 percent; precious and semi-precious stones and metals declined -7 percent; base metals and articles contracted 8 percent; vegetable products dropped 12 percent. In contrast, sales of pulp of wood, waste and scrap of paper increased 70 percent. 

Month-on-month, imports slightly declined 0.1 percent in August. While mineral products and base metals increased 19 percent and 12 percent respectively, imports of vegetable products recorded the highest drop (25 percent). Imports of machinery and electrical appliances decreased 7 percent, chemicals went down 8 percent and vehicles, aircraft and vessels decreased 5 percent. 

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

Year-on-year, exports increased 24.6 percent and imports rose 21.9 percent. 

The cumulative deficit for 2013 is R107.31 billion compared to R69.91 billion in 2012.  

South Africa Trade Deficit Widens to 7-Month High

South African Revenue Service | Joana Taborda |
9/30/2013 1:39:23 PM