Trade balance surplus shows improvement

The South African Revenue Service (SARS) trade statistics for December 2017 recorded a trade balance surplus of R15.72bn. These statistics include trade data with Botswana, Lesotho, Namibia and Swaziland.

The year-to-date (January 1 to December 31 2017) trade balance surplus of R80.55bn is an improvement on the surplus for the comparable period in 2016 of R1.05bn. Exports for the year to date grew by 7.9% while imports for the same period showed an increase of 0.7%.

Including trade data with Botswana, Lesotho, Namibia and Swaziland, the R15.72bn trade balance surplus for December 2017 is attributable to exports of R104.32bn and imports of R88.60bn.

Exports decreased from November 2017 to December 2017 by R11.87bn (10.2%) and imports decreased from November 2017 to December 2017 by R14.54bn (14.1%). Exports for the year to date (January 1 to December 31 2017) grew by 7.9% from R1,100.32bn in 2016 to R1,187.45bn in 2017.

Imports for the year to date of R1,106.90bn are 0.7% more than the imports recorded in January to December 2016 of R1,099.27bn, leaving a cumulative trade balance surplus of R80.55bn for 2017. On a year-on-year basis, the R15.72bn trade balance surplus for December 2017 is an improvement from the surplus in December 2016 of R12.27bn.

Exports of R104.32bn are 11.5% more than the exports recorded in December 2016 of R93.52bn. Imports of R88.60bn are 9% more than the imports recorded in December 2016 of R81.25bn. November 2017’s trade balance surplus was revised upwards by R0.03bn from the previous month’s preliminary surplus of R13.02bn to a revised surplus of R13.05bn as a result of ongoing vouchers of correction.