The South African Revenue Service (SARS) today releases trade statistics for August 2010 that record a trade deficit of R4.7 billion.
Summary
The R4.7 billion deficit for August 2010 was due to a decrease in exports of 13.4 percent and a decrease in imports of 1.5 percent.
Exports for August 2010 of R48.5 billion and imports of R53.2 billion resulted in a deficit of R4.7 billion.
Exports decreased by R7.5 billion (13.4 percent) and imports decreased by R0.8 billion (1.5 percent).
The export of mineral products was impacted negatively in August due to a derailment late July on an export line. The loss in mineral products export volumes however are expected to be recovered over the next few months.
The trade deficit for August 2010 is R4.7 billion (Deficit of R2.3 billion in August 2009) compared to a surplus of R2.0 billion in July 2010.
The cumulative deficit for the year to date is R12.2 billion compared to R21.4 billion in 2009, an improvement of R9.2 billion or 43.0 percent.
Trade highlights by category:
- The July to August change (down by -13.4 percent) in exports of goods reflected decreases mainly in:
- Mineral products decreased by R3 441 million (-27 percent)
- Precious and semi-precious stones and metals decreased by R1 664 million (-12 percent)
- Base metals and articles thereof decreased by R1 110 million (-14 percent)
- Vehicles, aircraft and vessels decreased by R740 million (-15 percent).
- The July to August change (down by -1.5 percent) in imports of goods reflected mainly in:
- Mineral products decreased by R3 224 million (-27 percent)
- Machinery and electrical appliances increased by R1 307 million (10 percent)
- Vehicles, aircraft and vessels increased by R856 million (16 percent)
- Original equipment components increased by R 23 million (1 percent).
Trade highlights by world zone updating
The world zone results for July and August 2010 as given below are unaudited.
Asia: The deficit increased from R5.8 billion in July to R8.0 billion in August 2010. Exports decreased by R3.5 billion to R15.6 billion and imports decreased by R1.2 billion to R23.6 billion
Europe: The deficit increased from R1.5 billion in July to R4.7 billion in August 2010. Exports decreased by R2.9 billion to R12.8 billion and imports increased by R0.4 billion to R17.5 billion.
America: The surplus decreased from R0.3 billion in July to R0.2 billion in August 2010. Exports decreased by R0.5 billion to R6.5 billion and imports decreased by R0.4 billion to R6.3 billion.
Africa: The surplus decreased from R4.2 billion in July to R3.2 billion in August 2010. Exports decreased by R0.6 billion to R7.9 billion and imports increased by R0.3 billion to R4.7 billion.
Oceania: The deficit increased from R0.05 billion in July to R0.1 billion in August 2010. Exports increased by R0.1 billion to R0.8 billion and imports increased by R0.2 billion to R0.9 billion.
See the trade statistics page for more information: http://www.sars.gov.za/home.asp?pid=1306
Source: South African Revenue Service
