The South African Revenue Service (SARS) today releases trade statistics for May 2010 that record a trade deficit of R0.30 billion.
Summary
The R0.30 billion deficit for May 2010 was due to an increase in exports of 6.8 percent and an increase in imports of 3.1 percent. Exports for May 2010 of R47.18 billion and imports of R47.48 billion resulted in a deficit of R0.30 billion.
Exports increased by R3.01 billion (6.8 percent) to R47.18 billion and Imports increased by R1.42 billion (3.1 percent) to R47.48 billion. The trade deficit for May 2010 is R0.30 billion (surplus of R1.99 billion in May 2009) compared to the deficit of R1.89 billion in April 2010, a month on month decline of R1.58 billion.
The cumulative deficit for the year to date is R12.42 billion compared to R19.82 billion in 2009, an improvement of R7.40 billion or -37percent.
Trade highlights by category
The April to May change (up by 6.8 percent) in exports of goods reflected increases mainly in:
* precious and semi-precious stones and metals, up by R3 644 million (37 percent)
* vehicles, aircraft and vessels, up by R 918 million (25 percent)
* mineral products, up by R 475 million (five percent)
* machinery and electrical appliances, up by R 400 million (12percent) and
* a decrease in base metals and articles thereof, down by R1 262 million (-16percent).
The April to May change (up by 3.1 percent) in imports of goods reflected increases mainly in:
* vehicles, aircraft and vessels, up by R1 790 million (40 percent)
* mineral products, up by R 612 million (seven percent) and
* decreases in machinery and electrical appliances, down by R 130 million (-1 percent) and
* original equipment components, down by R 7 million (zero percent).
Trade highlights by world zone updating
The world zone results for April and May 2010 as given below are unaudited.
* Asia: The deficit decreased from R5.4 billion in April 2010 to R2.9 billion in May. Exports increased by R0.06 billion to R15.9 billion and imports decreased by R2.5 billion to R18.8 billion.
* Europe: The deficit increased from R3.5 billion in April 2010 to R5.1 billion in May. Exports increased by R0.65 billion to R13.1 billion and imports increased by R2.2 billion to R18.2 billion.
* America: The deficit decreased from of R1.1 billion in April 2010 to R0.17 billion in May 2010. Exports increased by R0.79 billion to R5.2 billion and imports decreased by R0.12 billion to R5.4 billion.
* Africa: The surplus decreased from R4.7 billion in April 2010 to R3.2 billion in May 2010. Exports increased by R0.40 billion to R7.2 billion and imports increased by R2.0 billion to R4.1 billion.
For more information on trade statistics see: http://www.sars.gov.za/home.asp?pid=1306
Source: South African Revenue Service (http://www.sars.gov.za/)
