30 April 2007
Pretoria: Trade statistics for March 2007 that were released today by the
South African Revenue Service (SARS) indicate exports of R42,5 billion and
imports of R45,3 billion which resulted in a deficit of R2,7 billion. The
deficit remains the same due to an almost equal increase in value of imports
and exports from February to March.
Highlights include a month on month increase in exports of semi precious and
precious stones and metals, machinery and mechanical appliances and base
metals. Imports increased by R5,2 billion (13%) to R45,3 billion whilst exports
increased by R5,1 billion (14%) to R42,5 billion.
Trade by category
* The February to March change (up by 13%) in imports of goods reflected
increases mainly in machinery, mechanical appliances and electrical equipment
[increase of R2,5 billion (26%)], mineral products [up by R1,4 billion (22%)]
and chemicals [up by R0,5 billion (14%)]. However, imports of vehicles
decreased by R0,8 billion (13%).
* The February to March change in exports of goods (up by 14%) reflected an
increase in exports of semi precious and precious stones and metals [up by R1,4
billion (15%)], machinery, mechanical appliances and electrical equipment [up
by R1,4 billion (36%)], base metals [up by R1,3 billion (21%)] and vehicles [up
by R0,6 billion (18%)].
Trade by world zone
* The trade deficit with Asia increased from R3,5 billion in February to
R4,5 billion in March. Exports increased by R1,3 billion to R12,6 billion and
imports increased by R2,3 billion to R17,1 billion.
* The trade deficit with Europe increased from R2,7 billion in February to
R3,6 billion in March. Exports increased R1,4 billion (partly due to machinery
and mechanical appliances and vehicles) to R14,6 billion, while imports
increased by R2,4 billion to R18,2 billion (partly due to machinery and
mechanical appliances, electrical appliances and vehicles).
* Month on month the trade deficit with America increased from R123 billion
to R891 million. Exports increased R489 million to R5,2 billion and imports
increased R1,3 billion to R6,1 billion.
* The trade balance with Africa has increased from a surplus of R659 million
to R2,8 billion in March. Imports reduced by R1,2 billion to R2,5 billion and
exports increased by R980 million to R5,3 billion.
Compared to the same period in 2006, cumulative imports have increased by
R35,2 billion (38%) and exports increased by R35,0 billion (45%). It should be
noted that, for this period, the growth in exports was higher than the growth
in imports.
The increase in imports is mainly from Europe by R14,3 billion (40%), Asia
by R8,2 billion (21%) and Africa by R6,1 billion (170%). Export trade increased
mainly from Asia by R14,4 billion (73%), Europe by R11,6 billion (42%) and
America by R4,1 billion (40%).
The year on year growth in imports was driven mainly by machinery,
mechanical and electrical appliances (up by R10,1 billion (43%)), mineral
products (up by R6,3 billion (38%)), base metals (up by R3,9 billion (103%))
and vehicles (up by R3,4 billion (28%)).
The year to date trade in exports in March 2007 versus the same period in
2006 increased mainly due to precious or semi precious stones and metals
(growth of R7,6 billion (36%), base metals (growth of R7,6 billion (58%),
mineral products [growth of R7,5 billion (64%)] and machinery, mechanical and
electrical appliances [growth of R4,3 billion (58%)].
The cumulative trade deficit for 2007 was R15,0 billion versus a deficit of
R14,7 billion in 2006. The trade deficit for the month March 2007 was R2,7
billion versus a deficit of R2,8 billion in March 2006 (decline of 5%).
For further enquiries contact:
Adrian Lackay
SARS Communications
Cell: 083 388 2580
Issued by: South African Revenue Service
30 April 2007
