South Africa Trade Surplus Widens Slightly in October

South Africa trade surplus increased to ZAR 4.56 billion in October of 2017 from an upwardly revised ZAR 4.48 billion surplus in September, and above market expectations of a ZAR 1.00 billion deficit. Exports increased 2.2 percent and imports went up 2.3 percent. Considering the January to October period, exports increased 6.6 percent and imports decreased 0.2 percent, shifting the country's trade balance into a ZAR 51.62 billion surplus from a ZAR 9.9 billion gap in the same period of 2016.

Compared with the previous month, exports increased to ZAR 104.5 billion, led by mineral products (12 percent); base metals (13 percent); chemical products (20 percent), machinery and electronics (7 percent); prepared foodstuff (8 percent); textiles (16 percent), while vehicles and transport equipment (-8 percent) and vegetable goods (-44 percent) fell. Major destinations for sales were China (11.0 percent); the US (7.3 percent); India (5.9 percent); Germany (5.7 percent); and Namibia (4.6 percent).

Imports advanced to ZAR 99.9 billion, due to higher purchases of machinery and electronics (14 percent); wood pulp and paper (56 percent); precious metals and stones (69 percent), chemicals (7 percent) and original equipment components (7 percent). Imports came mostly from China (20.2 percent of total imports); Germany (11.2 percent); the US (5.6 percent); India (4.7 percent) and Saudi Arabia (4.6 percent).

Excluding trade with neighboring Botswana, Lesotho, Namibia and Swaziland, the country posted a trade deficit of ZAR 4.2 billion in October compared to a ZAR 3.8 billion gap in September.

South Africa Trade Surplus Widens Slightly in October

South African Revenue | ServiceStefanie Moya |
11/30/2017 2:21:39 PM