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South Africa Merchandise Trade Statistics for June 2018

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South Africa Merchandise Trade Statistics for June 2018

South Africa Merchandise Trade Statistics for June 2018
Photo credit: Anglo Gold Ashanti

South Africa records largest trade surplus in 6 months

South Africa’s trade surplus widened to R12 billion in June of 2018 from an upwardly revised R3.84 billion in the previous month and well above market expectations of a R5 billion surplus. It was the largest trade surplus since December last year, as exports rose and imports fell. Considering the first half of the year, the country recorded a trade deficit of R1.79 billion. 

Exports increased 7.1 percent month-over-month to R110.1 billion in June of 2018, driven by higher sales of precious metals and stones (38.0 percent); base metals (13 percent) and vehicles and transport equipment (8 percent). In contrast, exports of mineral products fell (-6 percent). The most important export partners were: the UK (9.1 percent of total exports), China (7.9 percent), the US (7.0 percent), Germany (6.5 percent) and India (5.1 percent).

Imports dropped 0.9 percent month-over-month to R98.1 billion, mainly due to vegetable products (-51 percent); base metals (-9 percent) and machinery and electronics (-3 percent). On the other hand, higher purchases were recorded for mineral products (11 percent) and original equipment components (15 percent). Main import partners were: China (17.5 percent of total imports), Germany (10.6 percent), the US (6.0 percent), Saudi Arabia (5.1 percent) and Nigeria (4.3 percent).

Excluding trade with neighbouring Botswana, Lesotho, Namibia and Swaziland, the country recorded a trade deficit of R4.69 billion in June.


The South African Revenue Service (SARS) has released trade statistics for June 2018 recording a trade balance surplus of R12.00 billion. These statistics include trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS).

The year-to-date (01 January to 30 June 2018) trade balance deficit of R1.79 billion is a deterioration on the surplus for the comparable period in 2017 of R25.00 billion. Exports year-to-date increased by 1.5% whilst imports for the same period showed an increase of 6.6%.

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

The R12.00 billion trade balance surplus for June 2018 is attributable to exports of R110.15 billion and imports of R98.15 billion. Exports increased from May 2018 to June 2018 by R7.27 billion (7.1%) and imports decreased from May 2018 to June 2018 by R0.89 billion (0.9%).

Exports for the year-to-date (01 January to 30 June) increased by 1.5% from R561.55 billion in 2017 to R570.06 billion in 2018. Imports for the year-to-date of R571.85 billion are 6.6% more than the imports recorded in January to June 2017 of R536.55 billion, leaving a cumulative trade balance deficit of R1.79 billion for 2018.

On a year-on-year basis, the R12.00 billion trade balance surplus for June 2018 is an improvement from the surplus recorded in June 2017 of R8.70 billion. Exports of R110.15 billion are 10.0% more than the exports recorded in June 2017 of R100.14 billion. Imports of R98.15 billion are 7.3% more than the imports recorded in June 2017 of R91.44 billion.

May 2018’s trade balance surplus was revised upwards by R0.33 billion from the previous month’s preliminary surplus of R3.52 billion to a revised surplus of R3.84 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:
Precious Metals & Stones
+R6 278
+ 38%
Base Metals
+R1 596
+ 13%
Vehicles & Transport Equipment
+R 964
+ 8%
Other Unclassified
+R 730
+229%
Prepared Foodstuff
-R 108
- 2%
Chemical Products
-R 202
- 3%
Wood & Articles Thereof
-R 239
- 32%
Plastics & Rubber
-R 292
- 12%
Mineral Products
-R1 514
- 6%
Total
+R7 213
99%
Total Movement
+R7 268
100%
 
The main month-on-month import movements: R’ million
Section:
Including BLNS:
Vegetable Products
-R1 531
- 51%
Machinery & Electronics
-R 745
- 3%
Base Metals
-R 459
- 9%
Plastics & Rubber
-R 375
- 9%
Textiles
-R 335
- 10%
Wood Pulp & Paper
-R 246
- 8%
Live Animals
-R 232
- 13%
Animal & Vegetable Fats
+R 161
+28%
Original Equipment Components
+R1 194
+15%
Mineral Products
+R1 782
+11%
Total
-R 786
89%

Total Movement

-R 888

100% 

Trade highlights by world zone

The world zone results from May 2018 (revised) to June 2018 are given below.

Africa:

Exports: R27 640 million – this is an increase of R 6 million from May 2018.
Imports: R13 213 million – this is an increase of R1 147 million from May 2018.

Trade Balance surplus: R14 427 million – this is a deterioration of R1 142 million in comparison to the R15 569 million surplus recorded in May 2018.

America:

Exports: R9 782 million – this is an increase of R 977 million from May 2018.
Imports: R9 095 million – this is a decrease of R 500 million from May 2018.

Trade Balance surplus: R 687 million – this is an improvement of R1 477 million in comparison to the R 790 million deficit recorded in May 2018.

Asia:

Exports: R33 275 million – this is an increase of R 396 million from May 2018.
Imports: R43 374 million – this is an increase of R 213 million from May 2018.

Trade Balance deficit: R10 099 million – this is an improvement of R 183 million in comparison to the R10 282 million deficit recorded in May 2018.

Europe:

Exports: R30 370 million – this is an increase of R3 292 million from May 2018.
Imports: R30 518 million – this is a decrease of R 777 million from May 2018.

Trade Balance deficit: R149 million – this is an improvement of R4 069 million in comparison to the R4 218 million deficit recorded in May 2018.

Oceania:

Exports: R1 287 million – this is an increase of R 558 million from May 2018.
Imports: R1 476 million – this is a decrease of R 489 million from May 2018.

Trade Balance deficit: R 189 million – this is an improvement of R1 047 million in comparison to the R1 235 million deficit recorded in May 2018.


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

The trade data excluding BLNS for June 2018 recorded a trade balance surplus of R4.69 billion. This was a result of exports of R99.53 billion and imports of R94.84 billion.

Exports increased from May 2018 to June 2018 by R7.81 billion (8.5%) and imports decreased from May 2018 to June 2018 by R1.19 billion (1.2%).

The cumulative deficit for 2018 is R45.32 billion compared to R20.91 billion deficit in 2017.

Trade highlights by category

The main month-on-month export movements: R’ million
Section:
Excluding BLNS:
Precious Metals & Stones
+R6 278
+39%
Base Metals
+R1 597
+14%
Vehicles & Transport Equipment
+R1 087
+10%
Other Unclassified
+R 728
+232%
Wood & Articles Thereof
-R 237
-41%
Plastics & Rubber
-R 290
-15%
Mineral Products
-R1 566
- 7%
Total
+R7 597
97%
Total Movement
+R7 809
100%
 
The main month-on-month import movements: R’ million
Section:
Excluding BLNS:
Vegetable Products
-R1 521
-52%
Machinery & Electronics
-R 712
- 3%
Base Metals
-R 505
- 10%
Plastics & Rubber
-R 382
- 9%
Textiles
-R 324
- 11%
Live Animals
-R 310
- 22%
Wood Pulp & Paper
-R 249
- 8%
Original Equipment Components
+R1 194
+15%
Mineral Products
+R1 795
+11%
Total
-R1 014
85%

Total Movement

-R1 193

100%

Trade highlights by world zone

The world zone results for Africa excluding BLNS from May 2018 (Revised) to June 2018 are given below.

Africa:

Exports: R17 022 million – this is an increase of R 547 million from May 2018.
Imports: R9 900 million – this is an increase of R 842 million from May 2018.

Trade Balance surplus: R7 122 million – this is a deterioration of R 295 million in comparison to the R7 417 million surplus recorded in May 2018.


Botswana, Lesotho, Namibia and Swaziland (Only)

Trade statistics with the BLNS for June 2018 recorded a trade balance surplus of R7.31 billion. This was a result of exports of R10.62 billion and imports of R3.31 billion.

Exports decreased from May 2018 to June 2018 by R0.54 billion (4.9%) and imports increased from May 2018 to June 2018 by R0.31 billion (10.2%).

The cumulative surplus for 2018 is R43.54 billion compared to R45.92 billion in 2017.

Trade Highlights by Category

The main month-on-month export movements: R’ million
Section:
BLNS:
Chemical Products
-R 148
- 14%
Vehicles & Transport Equipment
-R 123
- 11%
Textiles
-R 94
- 16%
Prepared Foodstuff
-R 46
- 4%
Footwear & Accessories
-R 41
- 26%
Vegetable Products
-R 35
- 6%
Mineral Products
+R 52
+ 3%
Total
-R 435
80%
Total Movement
-R 541
100%
 
The main month-on-month import movements: R’ million
Section:
BLNS:
Precious Metals & Stones
+R 186
+ 42%
Live Animals
+R 78
+ 22%
Prepared Foodstuff
+R 47
+ 11%
Base Metals
+R 46
+ 49%
Mineral Products
-R 12
- 19%
Wood & Articles Thereof
-R 13
- 9%
Machinery & Electronics
-R 33
- 9%
Total
+R 299
98%
Total Movement
+R 305
100%

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