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South Africa Merchandise Trade Statistics for November 2016
South Africa’s trade deficit narrows in November
South Africa posted a trade deficit of ZAR 1.1 billion in November 2016 compared to a downwardly revised ZAR 3.91 billion deficit in October, while missing market expectations of a ZAR -0.75 billion gap. Exports rose 12.8 percent, boosted by higher sales of mineral products and precious metals and stones and imports increased by 9.2 percent, as purchases rose mainly for vehicles and transport equipment and mineral products.
Exports jumped to ZAR 99.6 billion, boosted by higher sales of vegetable products (+20 percent), precious metals and stones (+20 percent), base metals (+11 percent), vehicles and transport equipment (+7 percent) and chemical products (+12 percent). Major destinations for exports were China (11.6 percent of total exports), the US (8.6 percent), Germany (7.8 percent), Namibia (5.7 percent) and Botswana (5.5 percent).
Imports rose to ZAR 100.7 billion, as purchases went up for vehicles and transport equipment (+57 percent), mineral products (+20 percent), machinery and electronics (+7 percent) and prepared foodstuffs (+23 percent). Meanwhile imports fell for equipment components (-25 percent). The main sources of imports to the country were China (19.5 percent of total imports), Germany (11.7 percent), the US (7.2 percent), France (6 percent) and Saudi Arabia (4.9 percent).
Considering the first eleven months of 2016, the trade deficit shrank to ZAR 14.61 billion compared to ZAR 59.28 billion the same period a year earlier, as exports went up 5.8 percent and imports grew at a much slower 1 percent.
Excluding trade with neighboring Botswana, Lesotho, Namibia and Swaziland, the country posted a trade gap of ZAR 10.71 billion in November.
The South African Revenue Service (SARS) has released trade statistics for November 2016 recording a trade balance deficit of R1.09 billion. The year-to-date deficit (01 January to 30 November 2016) of R14.61 billion is an improvement on the deficit for the comparable period in 2015 of R59.28 billion. These statistics include trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS).
Including trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS)
The R1.09 billion trade balance deficit for November 2016 is attributable to exports of R99.64 billion and imports of R100.73 billion. Exports for the year-to-date (01 January to 30 November 2016) grew by 5.8% from R948.37 billion in 2015 to R1 003.51 billion in 2016. Imports for the year-to-date of R1 018.13 billion are 1.0% more than the imports recorded in January to November 2015 of R1 007.66 billion.
On a year-on-year basis, November 2016’s R1.09 billion trade balance deficit is a deterioration from the surplus recorded in November 2015 of R0.24 billion. Exports of R99.64 billion are 7.0% more than the exports recorded in November 2015 of R93.14 billion. Imports of R100.73 billion are 8.4% more than the imports recorded in November 2015 of R92.89 billion.
October 2016’s trade balance deficit was revised downwards by R0.50 billion from the previous month’s preliminary deficit of R4.41 billion to a revised deficit of R3.91 billion as a result of ongoing Vouchers of Correction (VOC’s). Exports increased from October 2016 to November 2016 by R11.31 billion (12.8%) and imports increased from October 2016 to November 2016 by R8.49 billion (9.2%).
Trade highlights by category
The main month-on-month export movements (R’ million)
| Section: | Including BLNS: | |
| Mineral Products | + R 3 917 | + 20% |
| Precious Metals & Stones | + R 2 702 | + 20% |
| Base Metals | + R 1 198 | + 11% |
| Vehicles & Transport Equipment | + R 849 | + 7% |
| Chemical Products | + R 668 | + 12% |
The main month-on-month import movements (R’ million)
| Section: | Including BLNS: | |
| Vehicles & Transport Equipment | + R 4 238 | + 57% |
| Mineral Products | + R 2 411 | + 20% |
| Machinery & Electronics | + R 1 609 | + 7% |
| Prepared Foodstuffs | + R 770 | + 23% |
| Equipment Components | - R 1 985 | - 25% |
Trade highlights by world zone
The world zone results from October 2016 (Revised) to November 2016 are given below.
Africa:
Trade Balance surplus: R18 961 million – this is a 5.4% decrease in comparison to the R20 034 million surplus recorded in October 2016.
America:
Trade Balance deficit: R2 390 million – this is a 14.3% increase in comparison to the R2 092 million deficit recorded in October 2016.
Asia:
Trade Balance deficit: R11 943 million – this is a 27.5% decrease in comparison to the R16 463 million deficit recorded in October 2016.
Europe:
Trade Balance deficit: R12 233 million – this is a 28.0% increase in comparison to the R9 558 million deficit recorded in October 2016.
Oceania:
Trade Balance surplus: R222 million – this is an improvement in comparison to the R152 million deficit recorded in October 2016.
Excluding trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS)
The trade data excluding BLNS for November 2016 recorded a trade balance deficit of R10.71 billion. This was a result of exports of R86.47 billion and imports of R97.18 billion.
Exports increased from October 2016 to November 2016 by R10.61 billion (14.0%) and imports increased from October 2016 to November 2016 by R7.92 billion (8.9%).
The cumulative deficit for 2016 is R112.95 billion compared to R156.77 billion in 2015.
Trade highlights by category
The main month-on-month export movements (R’ million)
| Section: | Excluding BLNS: | |
| Mineral Products | + R 3 887 | + 22% |
| Precious Metals & Stones | + R 2 836 | + 22% |
| Base Metals | + R 1 113 | + 11% |
| Vehicles & Transport Equipment | + R 837 | + 7% |
| Chemical Products | + R 613 | + 14% |
The main month-on-month import movements (R’ million)
| Section: | Excluding BLNS: | |
| Vehicles & Transport Equipment | + R 4 232 | + 57% |
| Mineral Products | + R 2 428 | + 20% |
| Machinery & Electronics | + R 1 612 | + 7% |
| Prepared Foodstuff | + R 743 | + 27% |
| Equipment Components | - R 1 985 | - 25% |
Trade highlights by world zone
The world zone results for Africa excluding BLNS from October 2016 (Revised) to November 2016 are given below.
Africa:
Trade Balance surplus: R9 345 million – this is a 11.4% decrease in comparison to the R10 546 million surplus recorded in October 2016.
Botswana, Lesotho, Namibia and Swaziland (Only)
Trade statistics with the BLNS for November 2016 recorded a trade balance surplus of R9.62 billion. This was a result of exports of R13.16 billion and imports of R3.54 billion.
Exports increased from October 2016 to November 2016 by R0.70 billion (5.6%) and imports increased from October 2016 to November 2016 by R0.57 billion (19.1%).
The cumulative surplus for 2016 is R98.34 billion compared to R97.49 billion in 2015.
Trade Highlights by Category
The main month-on-month export movements (R’ million)
| Section: | BLNS: | |
| Prepared Foodstuffs | + R 192 | + 14% |
| Machinery & Electronics | + R 124 | + 7% |
| Textiles | + R 92 | + 16% |
| Base Metals | + R 86 | + 10% |
| Misc. Manufactured Articles | + R 81 | + 23% |
| Wood Pulp & Paper | + R 58 | + 22% |
| Chemical Products | + R 56 | + 5% |
| Plastics & Rubber | + R 48 | + 9% |
| Precious Metals & Stones | - R 134 | - 17% |
The main month-on-month import movements (R’ million)
| Section: | BLNS: | |
| Precious Metals & Stones | + R 246 | + 792% |
| Chemical Products | + R 176 | + 22% |
| Textiles | + R 130 | + 23% |
| Wood Pulp & Paper | + R 29 | + 84% |
| Vegetable Products | - R 29 | - 40% |
