Country’s trade surplus hits record-breaking R54.60-billion

South Africa’s trade surplus rose to a record-breaking R54.60-billion in May from the R51.26-billion registered in the previous month, data from the South African Revenue Service (SARS) revealed.

May’s trade data beat market expectations of R 46.5-billion surplus and was the largest monthly trade surplus ever recorded.

SARS said exports increased by 1.5% to R163.51-billion while imports decreased 0.9% to R108-billion, as higher shipments of vehicles and transport equipment, vegetables and chemical products outweighed decreases in those of precious metals and stones and mineral products.

South Africa’s main export partners were the US (12.5% of total overseas sales), China (10.9%), Germany (8.6%), Japan (8.6%) and the UK (7.2%). On the other side of the coin, main import partners were China (20% of total purchases), Germany (8.3%) and the US (6.6%).