SA's trade surplus widens in March
By Karl Gernetzky - May 6th, 11:18
SA recorded a trade surplus of R5bn in March, as growth in exports exceeded growth in imports for the second month in a row.
March’s surplus was attributable to exports of R105.4bn and imports of R100.40bn, data from Sars showed. The Bloomberg consensus was for a surplus of R4.8bn.
Imports rose 7.5% in March compared to February, while imports rose 6.6%.
SA’s trade balance also beat expectations in February at R3.99bn — a rebound from the seasonal deficit recorded in January. Stats SA, however, revised this figure downwards slightly by R120m last week.
The balance of trade is an indicator of the difference in value between a country’s imports and exports and dictates SA’s current account, which is indicative of the country’s trade with the rest of the world.
Analysts had differed ahead of the release of the statistics, with some predicting a deficit. The figures are difficult to predict and economists stress that it is important to look at longer-term trends.
Investec expected the trade account to have widened. Investec economist Kamilla Kaplan said ahead of the release, “In recent years, a sizeable surplus was typically recorded in March. This year, the size of the surplus is likely to have been tempered by the effect on imports of rising international oil prices.”Business Live
Zimbabwe's farmers smell the tea and coffee
14/06/2019 - 09:50
Farmers in Zimbabwe’s Eastern Highlands are smelling the tea and coffee.
SA's first citrus shipment arrives in China
13/06/2019 - 15:39
The historic shipment of 5 200 tons of citrus in a breakbulk vessel has arrived at Shanghai Port in the People’s Republic of China.
Foschini, Clicks offering good returns
10/06/2019 - 14:55
Prospects for retail sector companies on the JSE had withered this year in line with the slumping economy, but there were outliers, such as Foschini and Clicks, providing good returns for shareholders in the sector, analysts said.
Walmart worries that US tariffs will raise Mexican fresh produce prices
10/06/2019 - 14:40
Walmart CEO Doug McMillon says the retailer is concerned that fresh produce prices would rise if tariffs are placed on imports from Mexico.
SA import growth to be restrained by weak domestic activity
07/06/2019 - 08:45
South Africa’s current account deficit deteriorated by R32.3 billion to R142.5bn in the first quarter of 2019 compared with a deficit of R110.2bn in the fourth quarter of 2018.