South Africa Trade Deficit Narrows in October


In October of 2013, South African trade deficit narrowed to R12.39 billion from R18.4 billion in the previous month as exports increased more than imports.


From September to October, exports increased  by R5.83 billion (7.7%). The change in exports of goods reflected a 74 percent increase in vehicles, aircraft and vessels, 7 percent increase in precious and semi-precious stones and metals, 10 percent increase in Machinery and electrical appliances. In the same period, shipments of mineral and vegetable products decreased 4 percent and 36 percent respectively.

From September to October, imports increased  by R6.32 billion (7.2%). The change in imports of goods reflected a 28 percent increase in Vehicles, aircraft and vessels, 22 percent increase in products of the chemicals or allied industries, 6 percent increase in Machinery and electrical appliances and 27 percent increase in Base metals and articles. Imports of mineral products decreased 5 percent.

The deficit with Asia increased from R16 962 million in September 2013 to R19 062 million in October 2013. Exports decreased by R1 058 million to R25 344 million and imports increased by R1 041 million to R44 405 million.

The deficit with Europe increased from R7 591 million in September 2013 to R9 456 million in October 2013. Exports increased by R 573 million to R17 398 million and imports increased by R2 439 million to R26 854 million.

The deficit with America decreased from R3 202 million in September 2013 to R2 401 million in October 2013. Exports increased by R1 027 million to R6 656 million and imports increased by R 225 million to R9 057 million.

The surplus with Africa increased from R12 082 million in September 2013 to R12 696 million in October 2013. Exports increased by R3 270 million to R25 265 million and imports increased by R2 655 million to R12 569 million.

 

South Africa Trade Deficit Narrows in October


South African Revenue Service | anna@tradingeconomics.com
11/29/2013 12:28:09 PM