The South African Revenue Service (SARS) today releases trade statistics for October 2017 recording a trade balance surplus of R4.56 billion. These statistics include trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS). The year-to-date (01 January to 31 October 2017) trade balance surplus of R51.62 billion is an improvement on the deficit for the comparable period in 2016 of R9.93 billion. Exports for the year-to-date grew by 6.6% whilst imports for the same period declined by 0.2%.
Including trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS)
The R4.56 billion trade balance surplus for October 2017 is attributable to exports of R104.51 billion and imports of R99.95 billion. Exports increased from September 2017 to October 2017 by R2.29 billion (2.2%) and imports increased from September 2017 to October 2017 by R2.21 billion (2.3%). Exports for the year-to-date (01 January to 31 October 2017) grew by 6.6% from R907.36 billion in 2016 to R966.99 billion in 2017. Imports for the year-to-date of R915.36 billion are 0.2% less than the imports recorded in January to October 2016 of R917.29 billion, leaving a cumulative trade balance surplus of R51.62 billion for 2017. On a year-on-year basis, the R4.56 billion trade balance surplus for October 2017 is an improvement from the deficit recorded in October 2016 of R3.21 billion. Exports of R104.51 billion are 17.7% more than the exports recorded in October 2016 of R88.83 billion. Imports of R99.95 billion are 8.6% more than the imports recorded in October 2016 of R92.04 billion. September 2017’s trade balance surplus was revised upwards by R0.48 billion from the previous month’s preliminary surplus of R4.00 billion to a revised surplus of R4.48 billion as a result of ongoing Vouchers of Correction (VOC’s).
