SA records shock trade deficit for July
By Sunita Menon - Aug 31st 2018, 14:28
SA recorded a shock trade deficit of R4.66bn in July, falling well short of analysts’ expectations.
This follows June’s revised surplus of R11.89bn and was at odds with the Bloomberg consensus of a R5.2bn surplus.
Data from the SA Revenue Service (Sars) on Friday showed that July’s deficit was attributable to exports of R107.06bn and imports of R111.72bn.
On a year-on-year basis, this is a significant deterioration from the R8.58bn surplus recorded in July 2017.
The July trade balance delivered an average deficit of R3.8bn in four of the past eight years, and an average surplus of R5.8bn in the other four.
“This highlights the volatility,” said FNB chief economist Mamello Matikinca.
“We think that, given weak domestic demand, July will deliver a surplus sufficient enough to erase the year-to-date deficit of R1.4bn, and take the year-to-date surplus to July to approximately R2.7bn,” she said last week.
However, so far, there is a cumulative trade deficit of R6.51bn for 2018.Business Live
Black Friday boosts November’s retail sales
16/01/2019 - 14:12
Consumers came under pressure in 2018, with the first VAT hike in two decades and steep fuel price increases.
Another boost for the manufacturing sector in November
14/01/2019 - 11:09
Production from SA’s factories continued to improve in the last quarter of 2018, data from Statistics SA (Stats SA) showed.
Factory owners end 2018 in upbeat mood
09/01/2019 - 14:03
Activity in the manufacturing sector reached its best level in 2018 in December, ending the year on a strong note.
Record Christmas for Aldi as it steals customers from rivals
07/01/2019 - 14:43
New stores and demand for its premium ranges helped Aldi generate UK sales of almost £1bn in December, its best ever result for the Christmas trading period.
SA records trade surplus in November
07/01/2019 - 08:43
SA recorded a trade surplus of R3.49bn in November, statistics released by Sars reveal. However, for the 11 months to end-November, there was a trade deficit amounting to R4.16bn, a deterioration on the surplus for the comparable period in 2017, of R62.3bn.