South Africa Trade Deficit at 7-Month High

South African trade gap was recorded at ZAR 9.95 billion in August of 2015 from an upwardly revised ZAR 1.1 billion shortfall in July, the highest since January, due to lower sales of minerals and higher oil imports.

Exports fell 5.9 percent in August from July to ZAR 87.63 billion. Sales of mineral products and base metals shrank 20.1 percent and 20 percent respectively while increases were recorded for precious metals and stones (7.3 percent), vehicle and transport equipment (3.4 percent) and wood and articles (41.2 percent).

Imports went up 3.6 percent to ZAR 97.8 billion, the highest since October last year. Purchases of vehicle and transport rose the most (22.1 percent), followed by minerals (12.1 percent) and chemicals (12.4 percent).

Considering the first eight months of the year, the country’s trade deficit widened to ZAR 36.27 billion compared to ZAR 69.94 billion in 2014.

Excluding trade with neighboring Botswana, Lesotho, Namibia and Swaziland, the country posted a ZAR 19.1 billion deficit in August.

South Africa Trade Deficit at 7-Month High

South African Revenue Service | Joana Taborda |
9/30/2015 1:47:06 PM