South Africa trade surplus widens In May

South Africa's trade surplus widened to ZAR 9.5 billion in May 2017 from a downwardly revised ZAR 5.0 billion in the previous month and below market expectations of ZAR 10.6 billion. Exports jumped 15.4 percent to ZAR 105.0 billion, mainly due to higher sales of miscellaneous manufactured articles and vegetable products. Imports increased at a slower 11 percent to ZAR 95.5 billion, driven by purchases of original equipment components, and mineral products.

Exports rose 15.4 percent from the previous month to ZAR 105.0 billion, boosted by higher sales of miscellaneous manufactured articles (220 percent), vegetable products (46 percent), chemical products (28 percent), vehicles and transport equipment (15 percent) and base metals (14 percent). Major destinations for exports were China (7.8 percent of total exports), the US (7.8 percent), Germany (7.5 percent), India (4.8 percent) and Japan (4.4 percent).

Imports increased 11 percent to ZAR 95.5 billion, as purchases went up for: Original equipment components (33 percent); mineral products (22 percent); textiles (16 percent); chemical products (9 percent), and machinery and electronics (7 percent). Imports came mainly from China (18.7 percent of total imports), Germany (12.4 percent), the US (6.8 percent), Saudi Arabia (6 percent) and India (4.4 percent).

Excluding trade with neighboring Botswana, Lesotho, Namibia and Swaziland, the country posted a trade surplus of ZAR 1.9 billion in May compared with a ZAR 1.3 billion in April. 

In the January-May period, the trade balance posted a ZAR 19.5 billion surplus compared with a ZAR 13.3 billion deficit in the same period of 2016.

The South African Revenue Service (SARS) today releases trade statistics for May 2017 recording a trade balance surplus of R9.50 billion. These statistics include trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS). The year-to-date trade balance surplus (01 January to 31 May 2017) of R19.52 billion is an improvement on the deficit for the comparable period in 2016 of R13.29 billion.

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

The R9.50 billion trade balance surplus for May 2017 is attributable to exports of R105.02 billion and imports of R95.52 billion. Exports increased from April 2017 to May 2017 by R13.99 billion (15.4%) and imports increased from April 2017 to May 2017 by R9.46 billion (11.0%).

Exports for the year-to-date (01 January to 31 May 2017) grew by 6.1% from R438.01 billion in 2016 to R464.78 billion in 2017. Imports for the year-to-date of R445.25 billion are 1.3% less than the imports recorded in January to May 2016 of R451.30 billion.

On a year-on-year basis, the R9.50 billion trade balance surplus for May 2017 is a deterioration from the surplus recorded in May 2016 of R13.10 billion. Exports of R105.02 billion are 5.8% more than the exports recorded in May 2016 of R99.26 billion. Imports of R95.52 billion are 10.9% more than the imports recorded in May 2016 of R86.16 billion.

April 2017’s trade balance surplus was revised downwards by R0.11 billion from the previous month’s preliminary surplus of R5.08 billion to a revised surplus of R4.97 billion as a result of ongoing Vouchers of Correction (VOC’s).

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 April 2017 (revised) to May 2017 are given below.

Africa:

Trade Balance surplus: R17 852 million – this is a 48.1% increase in comparison to the R12 051 million surplus recorded in April 2017.

America:

Trade Balance surplus: R 138 million – this is an improvement in comparison to the R 899 million deficit recorded in April 2017.

Asia:

Trade Balance deficit: R11 555 million – this is a 21.8% increase in comparison to the R9 486 million deficit recorded in April 2017.

Europe:

Trade Balance deficit: R4 955 million – this is a 54.6% increase in comparison to the R3 205 million deficit recorded in April 2017.

Oceania:

Trade Balance deficit: R 31 million – this is a deterioration in comparison to the R 147 million surplus recorded in April 2017.

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

The trade data excluding BLNS for May 2017 recorded a trade balance surplus of R1.89 billion. This is a result of exports of R94.31 billion and imports of R92.42 billion.

Exports increased from April 2017 to May 2017 by R12.39 billion (15.1%) and imports increased from April 2017 to May 2017 by R9.20 billion (11.1%).

The cumulative deficit for 2017 is R15.14 billion compared to R55.24 billion deficit in 2016.

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 April 2017 (Revised) to May 2017 are given below.

Africa:

Trade Balance surplus: R10 245 million – this is a 77.2% increase in comparison to the R5 783 million surplus recorded in April 2017.

Botswana, Lesotho, Namibia and Swaziland (Only)

Trade statistics with the BLNS for May 2017 recorded a trade balance surplus of R7.61 billion. This is a result of exports of R10.71 billion and imports of R3.10 billion.

Exports increased from April 2017 to May 2017 by R1.59 billion (17.5%) and imports also increased from April 2017 to May 2017 by R0.25 billion (8.9%).

The cumulative surplus for 2017 is R34.66 billion compared to R41.95 billion in 2016.

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

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