South Africa trade surplus narrows in April

South Africa posted a trade surplus of R5.1 billion in April of 2017 compared to a downwardly revised R11.3 billion surplus in March and slightly below market expectations of R5.5 billion.

Exports fell 9.2 percent to R91.8 billion, due to lower sales of precious metals and stones, vehicles & transport equipment, machinery & electronics, and chemicals. Major destinations for exports were China (9.4 percent of total exports), Germany (7.7 percent), the US (6.9 percent), India (5 percent) and Japan (4.5 percent).

Imports went down 3.4 percent to R86.7 billion, driven by purchases of optical photographic products, original equipment components, vegetables, and chemicals. Imports came mainly from China (17.3 percent of total imports), Germany (10.5 percent), the US (6.3 percent), Saudi Arabia (5.9 percent) and  India (5 percent).

Excluding trade with neighboring Botswana, Lesotho, Namibia and Swaziland (BLNS), the country posted a trade deficit of R1.19 billion in April.

The South African Revenue Service (SARS) today releases trade statistics for April 2017 recording a trade balance surplus of R5.08 billion. These statistics include trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS). The year-to-date (01 January to 30 April 2017) trade balance surplus of R9.89 billion is an improvement on the deficit for the comparable period in 2016 of R26.39 billion.

Including trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS)

The R5.08 billion trade balance surplus for April 2017 is attributable to exports of R91.78 billion and imports of R86.70 billion. Exports decreased from March 2017 to April 2017 by R9.29 billion (9.2%) and imports decreased from March 2017 to April 2017 by R3.09 billion (3.4%).

Exports for the year-to-date (1 January to 30 April 2017) grew by 6.4% from R338.75 billion in 2016 to R360.27 billion in 2017. Imports for the year-to-date of R350.38 billion are 4.0% less than the imports recorded in January to April 2016 of R365.14 billion.

On a year-on-year basis, the R5.08 billion trade balance surplus for April 2017 is an improvement from the deficit recorded in April 2016 of R2.12 billion. Exports of R91.78 billion are 2% more than the exports recorded in March 2016 of R90.02 billion. Imports of R86.70 billion are 5.9% less than the imports recorded in April 2016 of R92.14 billion.

March 2017’s trade balance surplus was revised downwards by R0.16 billion from the previous month’s preliminary surplus of R11.44 billion to a revised surplus of R11.28 billion as a result of ongoing Vouchers of Correction (VOC’s).

Trade highlights by category

The main month-on-month export movements (R’ million)

The main month-on-month import movements (R’ million)

Trade highlights by world zone

The world zone results from March 2017 (revised) to April 2017 are given below.

Africa:

Trade Balance surplus: R12 131 million – this is a 29.4% decrease in comparison to the R17 186 million surplus recorded in March 2017.

America:

Trade Balance deficit: R 980 million – this is a 62.5% decrease in comparison to the R2 615 million deficit recorded in March 2017.

Asia:

Trade Balance deficit: R8 823 million – this is a 67.2% increase in comparison to the R5 278 million deficit recorded in March 2017.

Europe:

Trade Balance deficit: R3 754 million – this is a 30.1% decrease in comparison to the R5 370 million deficit recorded in March 2017.

Oceania:

Trade Balance surplus: R 147 million – this is a 5.8% decrease in comparison to the R 156 million surplus recorded in March 2017.

Excluding trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS)

The trade data excluding BLNS for April 2017 recorded a trade balance deficit of R1.19 billion. This was a result of exports of R82.66 billion and imports of R83.85 billion.

Exports decreased from March 2017 to April 2017 by R7.18 billion (8.0%) and imports decreased from March 2017 to April 2017 by R2.67 billion (3.1%).

The cumulative deficit for 2017 is R17.21 billion compared to R60.33 billion deficit in 2016.

Trade highlights by category

The main month-on-month export movements (R’ million)

The main month-on-month import movements (R’ million)

Trade highlights by world zone

The world zone results for Africa excluding BLNS from March 2017 (Revised) to April 2017 are given below.

Africa:

Trade Balance surplus: R5 861 million – this is a 36.5% decrease in comparison to the R9 231 million surplus recorded in March 2017.

Botswana, Lesotho, Namibia and Swaziland (Only)

Trade statistics with the BLNS for April 2017 recorded a trade balance surplus of R6.27 billion. This was a result of exports of R9.12 billion and imports of R2.85 billion.

Exports decreased from March 2017 to April 2017 by R2.10 billion (18.8%) and imports also decreased from March 2017 to April 2017 by R0.42 billion (12.9%).

The cumulative surplus for 2017 is R27.10 billion compared to R33.94 billion in 2016.

Trade Highlights by Category

The main month-on-month export movements (R’ million)

The main month-on-month import movements (R’ million)