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
Consumers relying more on credit to survive
26/06/2019 - 08:38
Consumers are increasingly relying on their credit cards and personal loans for daily survival, the latest statistics from one of the major credit bureaus reveal.
SA’s growth prospects pick up a little in April
25/06/2019 - 14:26
The Reserve Bank’s leading indicator signals activity increased slightly in April from March, with more building plans approved and more jobs advertised.
Laying the groundwork for SA's emerging farmers
20/06/2019 - 14:27
Smallholder farmers have called on the government to address issues bedevilling the sector to grow the embattled economy. Specifically, they want Thoko Didiza, minister of the newly reconfigured agriculture, land reform & rural development department, to champion their struggles.
Inflation accelerates slightly in May
19/06/2019 - 11:24
Inflation accelerated slightly to 4.5% in May, giving impetus to calls for an interest cut in July.
Plans to reshape the clothing industry
18/06/2019 - 10:19
A master plan submitted to the Department of Trade and Industry (dti) aims to improve the country's ailing clothing and textile industry.