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South Africa Merchandise Trade Statistics for August 2017

South Africa Merchandise Trade Statistics for August 2017
Photo credit: Privatemusings

02 Oct 2017

South Africa trade surplus narrows in August

South Africa’s trade surplus decreased to R5.94 billion in August of 2017 from an upwardly revised R9.33 billion surplus in July, but beating market expectations of a R3.2 billion surplus.

Exports increased 11 percent while imports advanced at a faster 16.3 percent. Considering the January to August period, exports increased 5.8 percent and imports decreased 2.1 percent, shifting the country’s trade balance into a R43.5 billion surplus from a R13.7 billion gap in the same period of 2016.

Compared with the previous month, exports increased to R103.4 billion from R93.1 billion, led by higher shipments of mineral products (21 percent); precious metals and stones (20 percent); base metals (12 percent); machinery and electronics (12 percent) while those of vehicles and transport equipment fell 17 percent. Major destinations for sales were China (9.9 percent); the US (8.1 percent); Germany (6.8 percent); Japan (4.7 percent) and Botswana (4.6 percent).

Imports advanced to R 97.4 billion from R83.8 billion, due to higher purchases of mineral products (65 percent); prepared foodstuffs (36 percent); textiles (27 percent); original equipment components (29 percent) and machinery and electronics (11 percent). Imports came mostly from China (21.3 percent of total imports); Germany (14.1 percent); the US (7.8 percent); India (5.6 percent) and Saudi Arabia (5.2 percent).

Excluding trade with neighbouring Botswana, Lesotho, Namibia and Swaziland, the country posted a trade deficit of R1.9 billion in August compared to a R2.6 billion surplus in July.


The South African Revenue Service (SARS) on 29 September released trade statistics for August 2017 recording a trade balance surplus of R5.94 billion. These statistics include trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS). The year-to-date (01 January to 31 August 2017) trade balance surplus of R43.45 billion is an improvement on the deficit for the comparable period in 2016 of R13.67 billion. Exports for the year-to-date grew by 5.8% whilst imports for the same period declined by 2.1%.

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

The R5.94 billion trade balance surplus for August 2017 is attributable to exports of R103.38 billion and imports of R97.44 billion. Exports increased from July 2017 to August 2017 by R10.28 billion (11.0%) and imports increased from July 2017 to August 2017 by R13.67 billion (16.3%).

Exports for the year-to-date (01 January to 31 August 2017) grew by 5.8% from R719.38 billion in 2016 to R761.24 billion in 2017. Imports for the year-to-date of R717.79 billion are 2.1% less than the imports recorded in January to August 2016 of R733.05 billion, leaving a cumulative trade balance surplus of R43.45 billion for 2017.

On a year-on-year basis, the R5.94 billion trade balance surplus for August 2017 is an improvement from the deficit recorded in August 2016 of R8.91 billion. Exports of R103.38 billion are 15.2% more than the exports recorded in August 2016 of R89.76 billion. Imports of R97.44 billion are 1.3% less than the imports recorded in August 2016 of R98.67 billion.

July 2017’s trade balance surplus was revised upwards by R0.34 billion from the previous month’s preliminary surplus of R8.99 billion to a revised surplus of R9.33 billion as a result of ongoing Vouchers of Correction (VOC’s).

Trade highlights by category

The main month-on-month export movements: R’ million

Section:

Including BLNS:

Mineral Products

+R4 189

+21%

Precious Metals & Stones

+R2 990

+20%

Base Metals

+R1 289

+12%

Machinery & Electronics

+R 928

+12%

Chemical Products

+R 848

+15%

Prepared Foodstuff

+R 637

+16%

Vehicles & Transport Equipment

-R2 321

-17%

Total

+R8 560

83%

Total Movement

+R10 284

100%

The main month-on-month import movements: R’ million

Section:

Including BLNS:

Mineral Products

+R5 616

+65%

Machinery & Electronics

+R2 169

+11%

Original Equipment Components

+R2 076

+29%

Prepared Foodstuff

+R 916

+36%

Textiles

+R 878

+27%

Total

+R11 655

85%

Total Movement

+R13 674

100%

Trade highlights by world zone

The world zone results from July 2017 (revised) to August 2017 are given below.

Africa:

Exports: R27 819 million – this is an increase of R2 628 million from July 2017.
Imports: R10 897 million – this is an increase of R3 100 million from July 2017.

Trade Balance surplus: R16 922 million – this is a deterioration in comparison to the R17 394 million surplus recorded in July 2017.

America:

Exports: R10 007 million – this is an increase of R1 324 million from July 2017.
Imports: R9 953 million – this is an increase of R 386 million from July 2017.

Trade Balance surplus: R 54 million – this is an improvement in comparison to the R884 million deficit recorded in July 2017.

Asia:

Exports: R31 431 million – this is an increase of R4 468 million from July 2017.
Imports: R43 661 million – this is an increase of R6 929 million from July 2017.

Trade Balance deficit: R12 230 million – this is a deterioration in comparison to the R9 769 million deficit recorded in July 2017.

Europe:

Exports: R25 624 million – this is an increase of R 514 million from July 2017.
Imports: R31 331 million – this is an increase of R2 632 million from July 2017.

Trade Balance deficit: R5 707 million – this is a deterioration in comparison to the R3 588 million deficit recorded in July 2017.

Oceania:

Exports: R1 396 million – this is an increase of R 73 million from July 2017.
Imports: R1 459 million – this is an increase of R 530 million from July 2017.

Trade Balance deficit: R63 million – this is a deterioration in comparison to the R 395 million surplus recorded in July 2017.


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

The trade data excluding BLNS for August 2017 recorded a trade balance deficit of R 1.89 billion. This was a result of exports of R91.55 billion and imports of R93.44 billion.

Exports increased from July 2017 to August 2017 by R8.46 billion (10.2%) and imports increased from July 2017 to August 2017 by R12.98 billion (16.1%).

The cumulative deficit for 2017 is R17.08 billion compared to R83.28 billion deficit in 2016.

Trade highlights by category

The main month-on-month export movements: R’ million

Section:

Excluding BLNS:

Mineral Products

+R4 145

+23%

Precious Metals & Stones

+R2 207

+15%

Base Metals

+R1 273

+13%

Chemical Products

+R 702

+14%

Machinery & Electronics

+R 684

+11%

Wood Pulp and Paper

+R 489

+42%

Vehicles & Transport Equipment

- R2 346

-18%

Total

+ R7 154

85%

Total Movement

+ R8 464

100%

The main month-on-month import movements: R’ million

Section:

Excluding BLNS:

Mineral Products

+R5 605

+65%

Machinery & Electronics

+R2 170

+11%

Original Equipment Components

+R2 076

+29%

Base Metals

+R 859

+20%

Prepared Foodstuff

+R 828

+39%

Total

+R11 538

89%

Total Movement

+R12 980

100%

Trade highlights by world zone

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

Africa:

Exports: R15 991 million – this is an increase of R807 million from July 2017.
Imports: R6 903 million – this is an increase of R2 407 million from July 2017.

Trade Balance surplus: R9 088 million – this is a deterioration in comparison to the R 10 687 million surplus recorded in July 2017.


Botswana, Lesotho, Namibia and Swaziland (Only)

Trade statistics with the BLNS for August 2017 recorded a trade balance surplus of R7.83 billion. This was a result of exports of R11.82 billion and imports of R3.99 billion.

Exports increased from July 2017 to August 2017 by R1.82 billion (18.2%) and imports increased from July 2017 to August 2017 by R0.69 billion (21.0%).

The cumulative surplus for 2017 is R60.53 billion compared to R69.61 billion in 2016.

Trade Highlights by Category

The main month-on-month export movements: R’ million

Section:

BLNS:

Precious Metals & Stones

+R 783

+7266%

Machinery & Electronics

+R 244

+17%

Prepared Foodstuff

+R 192

+18%

Chemical Products

+R 146

+16%

Plastics and Rubber

+R 85

+20%

Total

+R1 451

80%

Total Movement

+R1 820

100%

The main month-on-month import movements: R’ million

Section:

BLNS:

Chemical Products

+R 230

+42%

Precious Metals & Stones

+R 224

+38%

Prepared Foodstuff

+R 88

+22%

Live Animals

+R 61

+13%

Textiles

+R 51

+11%

Total

+ R 655

94%

Total Movement

+ R 694

100%

Source Trading Economics and SARS
Website Visit website
Date 02 Oct 2017
 
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