South Africa Trade Gap Narrows to 6-Month Low

South Africa trade deficit declined to ZAR 0.89 billion in September of 2015 from an upwardly revised ZAR 10.1 billion shortfall in the previous month as exports increased and imports shrank.

Exports rose 5.6 percent from the previous month to ZAR 92.29 billion in September. Sales of minerals rose 15.8 percent, those of vehicle and transport equipment went up 10.9 percent and shipments of chemicals products grew 16.4 percent. In contrast, exports of vegetables (-10.7 percent) and precious metals and stones (-2.6 percent) fell. 

Imports shrank 4.5 percent from August to ZAR 93.17 billion. Purchases of minerals recorded the highest fall (-27 percent), followed by vehicle and transport equipment (-27.7 percent) while imports of vegetables (+62.3 percent) and machinery and electronics (+4.5 percent) rose. 

Considering the first nine months of the year, the country’s trade deficit narrowed to ZAR 37.35 billion compared to ZAR 73.37 billion in 2014.

Excluding trade with neighboring Botswana, Lesotho, Namibia and Swaziland, the country posted a ZAR 10.12 billion deficit in September.

South Africa Trade Gap Narrows to 6-Month Low

South African Revenue Service | Joana Taborda |
10/30/2015 12:24:07 PM