Advertise with fastmoving.co.za
 
 

October’s deficit was also revised down by R1.26bn.
October’s deficit was also revised down by R1.26bn.

SA records trade surplus in November

ECONOMIC NEWS

By Linda Ensor - Jan 7th, 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.
 

Exports year-to-date increased by 6.1% while imports for the same period showed an increase of 13%. The statistics include trade data with Botswana, eSwatini, Lesotho and Namibia.

The R3.49bn trade surplus for November 2018 is attributable to exports of R118.84bn and imports of R115.35bn. Exports decreased from October to November 2018 by R2.79bn (2.3%) and imports by R10.57bn (8.4%).

Exports for the year-to-date (January 1 to November 30) increased by 6.1% from R1.080-trillion in 2017 to R1.146-trillion in 2018. Imports for the year-to-date of R1.150-trillion are 13% more than the R1.018-trillion in imports recorded in January to November 2017, leaving a cumulative trade deficit of R4.16bn for 2018.

On a year-on-year basis, the R3.49bn trade surplus for November 2018 is a deterioration from the R13.38bn surplus recorded in November 2017. Exports of R118.84bn are 2% more than the R116.51bn recorded in November 2017. Imports of R115.35bn are 11.8% more than the R103.14bn recorded in November 2017.

October 2018’s trade deficit was revised down by R1.26bn from the previous month’s preliminary deficit of R5.55bn to a revised deficit of R4.29bn.
Business Live 

Read more about: trade | sa economy | imports | exports

Related News

Retail sales beat expectations in February
19/04/2019 - 12:39
SA shoppers spent more than expected in February, with retail sales growing 1.1% year on year, led by expenditure in the textiles, footwear and clothing sector.

Chicken prices may spike by up to 32% due to tariff increases, says importers
18/04/2019 - 09:22
Increasing tariffs on imported poultry products could hike chicken prices by up to 32%, says consumer bodies and importers and exporters organisation.

Inflation accelerates in March after painful fuel price increase
17/04/2019 - 13:29
Another fuel price hike in March led to inflation hitting the midpoint of the Reserve Bank’s 3%-6% target range.

Moody’s expects SA confidence to rise after elections
17/04/2019 - 09:13
SA is expected to see a surge in confidence following the elections in May, as the current administration under President Cyril Ramaphosa is continuing to gradually move forward with the implementation of its reform agenda, Moody’s Investors Service said.

SA dairy exports doing well
16/04/2019 - 15:42
Dairy imports for February were 4 110 tons at a cost of R172 million. South Africa imported mainly from France (28%) New Zealand (28%), Germany (13%), Poland (8%) and Ireland (4%). Dairy imports for this year are low compared to last year, largely due to limited UHT imports. The main dairy products imported in February were whey (34%), milk powder (22%) and cheese (18%). UHT as a percentage of total imports was less than 1%.