Surplus noted in September

SA recorded a trade balance surplus of R4bn for September 2017 according to the South African Revenue Service (SARS) trade statistics for that month, which include trade data with Botswana, Lesotho, Namibia and Swaziland.

The year-to-date (January 1 to September 30 2017) trade balance surplus of R47.12bn is an improvement on the deficit for the comparable period in 2016 of R6.66bn.

Exports for the year to date grew by 5.4% while imports for the same period declined by 1.2%, including trade data with Botswana, Lesotho, Namibia and Swaziland. The R4bn trade balance surplus for September 2017 is attributable to exports of R101.76bn and imports of R97.76bn.

Exports decreased from August 2017 to September 2017 by R1.61bn (1.6%) and imports increased from August 2017 to September 2017 by R0.36bn (0.4%). Exports for the year to date (January 1 to September 30 2017) grew by 5.4% from R818.59bn in 2016 to R862.61bn in 2017.

Imports for the year to date of R815.49bn are 1.2% less than the imports recorded in January to September 2016 of R825.25bn, leaving a cumulative trade balance surplus of R47.12bn for 2017.

On a year-on-year basis, the R4bn trade balance surplus for September 2017 is a deterioration from the surplus recorded in September 2016 of R7.01bn.

Exports of R101.76bn are 2.6% up on exports recorded in September 2016 of R99.22bn. Imports of R97.76bn are 6% up on imports recorded in September 2016 of R92.21bn.

August 2017’s trade balance surplus was revised upwards by R0.04bn from the previous month’s preliminary surplus of R5.94bn to a revised surplus of R5.98bn as a result of ongoing vouchers of correction.