SARS trade statistics indicate ZAR4.66 billion deficit

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The South African Revenue Service (SARS) today, 4 September 2018, releases trade statistics for July 2018 recording a trade deficit of ZAR4.66 billion.

These statistics include trade data with Botswana, Eswatini, Lesotho and Namibia (BELN).

The year-to-date (01 January to 31 July 2018) trade deficit of ZAR6.51 billion is a deterioration on the surplus for the comparable period in 2017 of ZAR33.21 billion.

Exports year-to-date increased by 3.6% whilst imports for the same period showed an increase of 10.2% including trade data with Botswana, Eswatini, Lesotho and Namibia (BELN).

The ZAR4.66 billion trade deficit for July 2018 is attributable to exports of ZAR107.06 billion and imports of ZAR111.72 billion. Exports decreased from June 2018 to July 2018 by ZAR2.96 billion (2.7%) and imports increased from June 2018 to July 2018 by ZAR13.58 billion (13.8%).

Exports for the year-to-date (01 January to 31 July) increased by 3.6% from ZAR653.47 billion in 2017 to ZAR677.06 billion in 2018.

Imports for the year-to-date of ZAR683.57 billion are 10.2% more than the imports recorded in January to July 2017 of ZAR620.26 billion, leaving a cumulative trade deficit of ZAR6.51 billion for 2018.

On a year-on-year basis, the ZAR4.66 billion trade deficit for July 2018 is an deterioration from the surplus recorded in July 2017 of ZAR8.58 billion. Exports of ZAR107.06 billion are 16.0% more than the exports recorded in July 2017 of ZAR92.30 billion.

Imports of ZAR111.72 billion are 33.5% more than the imports recorded in July 2017 of ZAR83.71 billion.

June 2018’s trade surplus was revised downwards by ZAR0.11 billion from the previous month’s preliminary surplus of ZAR12.00 billion to a revised surplus of R11.89 billion as a result of ongoing Vouchers of Correction (VOC’s).

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Bontle Moeng is the Founder and Managing Director of BizNis Africa. Moeng has spent 15 years working in the digital and online media industry across Africa. She applied her trade at True Love magazine prior to discovering her passion for Investment news in key sectors across Africa. Moeng previously worked for ITWeb, Starfish Mobile Technologies, ITNewsAfrica, AVATAR Agency, eNitiate, Global Interface Consulting and Havas Johannesburg. Her primary focus is to provide solid and valuable content on investment opportunities for the ICT, Energy and Mining sectors across Africa. In addition, the online news publication assists global companies to expand their presence in Africa. Email: news@biznisafrica.co.za

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