SA posts R0.4bil trade surplus

Monday, August 31, 2009

Pretoria - South Africa posted a record trade surplus of R0.4 billion in July, the South African Revenue Services (SARS) announced on Monday.

The third consecutive surplus since May has been attributed to an increase in exports of 3.31 percent and an increase in imports of 10.54 percent.

"Exports of R44.4 billion and imports of R44 billion accounted for the R0.4 billion surplus," said SARS.

It further said that between 2004 and 2008 there had never been three consecutive surpluses. "There were two consecutive surpluses in 2004 and three surpluses in 2005 during April; June and December," said SARS.

The June to July change in imports reflected increases in mineral products, vehicles, vessels and aircrafts as well as original equipment components, while the change in exports reflected increases in mineral products, base metals and articles thereof, machinery and electrical appliances as well as vehicles, aircraft and vessels.

From January to July 2009 the progressive deficit comes to R17.4 billion which was attributed mainly to the deficit in January of R17.5 billion. The progressive deficit from January to July last year was R48.09 billion