due to a month-on-month decrease in exports of semi-precious and precious
stones and metals, machinery and mechanical appliances
31 May 2007
Pretoria: The South African Revenue Service (Sars) announced today that
April exports of R38 billion and imports of R43,7 billion resulted in a deficit
of R5,7 billion. The deficit increased from R2,7 billion to R5,7 billion due to
a higher decrease in the value of exports than imports from March to April.
Highlights include month-on-month decrease in exports of semi-precious and
precious stones and metals, machinery and mechanical appliances and a decrease
in imports of base metals and machinery and electrical equipment. Imports
decreased by R1,5 billion (three percent) to R43,7 billion whilst exports
decreased by R4,5 billion (11%) to R38 billion.
Trade by category
* The March to April change (down by three percent) in imports of goods
reflected decreases mainly in machinery and electrical equipment (decrease of
R1,4 billion (11%); base metals (down by R0,5 billion (19) and chemicals (down
by R0,4 billion (10%). However, imports of mineral products increased by R1,4
billion (17%) as a result of increased importation of crude oil.
* The March to April change in exports of goods (down by 11%) reflected a
decrease in exports of semi-precious and precious stones and metals (down by
R2,3 billion (21%); machinery, mechanical appliances and electrical equipment
(down by R1,1 billion (21%) and vehicles (down by R0,3 billion (8%).
Trade by world zone
* The trade deficit with Asia increased from R4,5 billion in March to R7,3
billion in April. Exports decreased by R2,1 billion to R10,5 billion and
imports increased by R678 million to R17,8 billion.
* The trade deficit with Europe decreased from R3,6 billion in March to R1,4
billion in April. Exports decreased R932 million (partly due to machinery and
mechanical appliances, base metals and chemicals) to R13,6 billion and imports
decreased by R3,2 billion to R15 billion (partly due to machinery and
mechanical appliances, electrical appliances and vehicles).
* Month-on-month the trade deficit with America decreased from R891 billion
to R791 million. Exports increased R75 million to R5.2 billion and imports
decreased R25 million to R6 billion.
* The trade balance with Africa has decreased from a surplus of R2,8 billion
to R1,6 billion in April. Imports increased by R1,3 billion to R3,8 billion and
exports increased by R31 million to R5,3 billion.
Trade for the year
The cumulative trade deficit for 2007 was R20,8 billion versus a deficit of
R17 billion in 2006. The trade deficit for the month April 2007 was R5,7
billion versus a deficit of R2,4 billion in April 2006. Compared to the same
period in 2006, the growth in exports has outpaced the growth in imports (as
measured in percentages). Cumulative imports have increased by R50 billion
(41%) and exports increased by R46 billion (44%).
The increase in imports is mainly from Europe by R18.6 billion (40%), Asia
by R15,4 billion (31%) and Africa by R6,5 billion (93%). Export trade increased
mainly to Asia by R18,2 billion (69%), Europe by R15,5 billion (42%) and
America by R5,7 billion (41%).
The year-on-year growth in imports was driven mainly by machinery,
mechanical and electrical appliances (up by R12,9 billion (40%), mineral
products (up by R11 billion (53%), vehicles (up by R5,2 billion (34 %) and base
metals (up by R4,7 billion (93%).
The year-to-date trade in exports in April 2007 versus the same period in
2006 increased mainly due to mineral products (growth of R10,4 billion (68%),
base metals (growth of R10,4 billion (58%), precious or semi-precious stones
and metals (growth of R9 billion (32%) and machinery, mechanical and electrical
appliances (growth of R6 billion (61%).
Graphs illustrating the trade balance and imports and exports are available
on the Sars website : (http://www.sars.gov.za).
Enquiries:
Spokesperson
Adrian Lackay
Tel: 012 422 5743
Cell: 083 388 2580
Issued by: South African Revenue Service
31 May 2007
Source: South African Revenue Service (http://www.sars.gov.za)
