South Africa Posts First Trade Surplus in 23 Months In November

In November of 2013, South African trade balance turned into a surplus of R770 million from a R12.4 billion deficit in the previous month. Exports rose moderately and imports plunged compared to the previous month.
SARS | Nuno Fontes | 12/30/2013 12:29:06 PM
The R0.77 billion surplus for November 2013 can be attributed to exports of R86.60 billion and imports of R85.83 billion. Exports increased from October to November by R4.33 billion (5.3 percent) and imports decreased from October to November by R8.26 billion (8.8 percent). 

The monthly change in shipments of goods reflected increases in vehicles, aircraft and vessels by R2 414 million (34 percent); precious and semi-precious stones and metals by R 938 million (6 percent) and mineral products by R 657 million (3 percent). Sales of vegetable products decreased by R 471 million (-18 percent).

The October to November change in purchases of goods reflected decreases in: mineral products by R3 511 million (-17 percent); original equipment components by R1 252 million (-26 percent); products of the chemicals or allied industries by R1 217 million (-13 percent); base metals and articles thereof decreased by R 716 million (-15 percent) and vehicles, aircraft and vessels by R 620 million (-7 percent).

The trade deficit with Asian countries decreased from R18 571 million in October to R14 033 million in November 2013 and the gap in trade with European countries decreased from R9 606 million in October to R7 285 million in November 2013. The surplus with other African countries increased from R12 922 million in October to R17 254 million in November.

The cumulative deficit for 2013 is R74.74 billion compared to R37.80 billion in 2012.

South Africa Posts First Trade Surplus in 23 Months In November