The South African Revenue Service (SARS) today releases trade statistics for December 2010 that record a trade surplus of R10.3 billion, compared to a trade surplus of R8.4 billion in November 2010.
Summary
The R10.3 billion surplus for December 2010 was due to a decrease in exports of 10.4% and a decrease in imports of 15.9%.
Exports for December 2010 of R53.9 billion and imports of R43.6 billion resulted in a surplus of R10.3 billion.
Exports decreased by R6.3 billion (10.4%) and imports decreased by R8.2 billion (15.9%).
The trade surplus for December 2010 is R10.3 billion (Surplus of R3.6 billion in December 2009) compared to a surplus of R8.4 billion in November 2010, a month-on-month improvement of R1.9 billion.
The trade surplus for December 2010 was buoyed by higher commodity exports, specifically in iron ore, precious metals and base metals.
The cumulative surplus for 2010 is R5 billion compared to a deficit of R27.3 billion in 2009, an improvement of R32.3 billion or 118.3%.
An annual surplus R12 billion was last posted in 2003.
Trade highlights by category
- The November to December change (down by -10.4%) in exports of goods reflected decreases mainly in:
- Prepared foodstuffs, beverages and tobacco decreased by R459 million (-25%).
- Vehicles, aircraft and vessels decreased by R807 million (-15%).
- Mineral products decreased by R908 million (-6%).
- Precious and semi-precious stones and metals decreased by R1 632 million (-10%).
- Base metals and articles thereof decreased by R1 641 million (-18%).
- The November to December change (down by -15.9%) in imports of goods reflected decreases mainly in:
- Mineral products decreased by R365 million (-4%).
- Plastics and rubber and articles thereof decreased by R417 million (-21%).
- Textile and textile articles decreased by R478 million (-28%).
- Base metals and articles thereof decreased by R843 million (-35%).
- Original equipment components decreased by R1 136 million (-37%).
- Products of the chemical or allied industries decreased by R1 185 million (-24%).
- Machinery and electrical appliances decreased by R2 489 million (-18%).
- An increase in Vehicles, aircraft and vessels by R324 million (6%).
Trade highlights by world zone
The world zone results for November and December 2010 as given below are unaudited.
- Asia: The deficit increased from R1.7 billion in November to R2.1 billion in December 2010. Exports decreased by R3.4 billion to
R18.1 billion and imports decreased by R3.0 billion to R20.2 billion. - Europe: The deficit of R 2.5 billion in November changed to a surplus of R0.2 billion in December 2010. Exports decreased by R0.9 billion to R14.1 billion and imports decreased by R3.6 billion to R13.9 billion.
- America: The surplus decreased from R0.7 billion in November to R0.6 billion in December 2010. Exports decreased by R0.3 billion to R6.1 billion and imports decreased by R0.2 billion to R5.5 billion.
- Africa: The surplus increased from R4.9 billion in November to R5.3 billion in December 2010. Exports decreased by R0.9 billion to R8.2 billion and imports decreased by R1.3 billion to R3.0 billion.
- Oceania: The deficit decreased by the equivalent value (R0.2 billion) in November and December 2010. Exports increased by R0.03 billion to R0.8 billion and imports decreased by R0.03 billion to R0.9 billion.
For more detail, go to Customs and Excise; Trade Data (http://www.sars.gov.za/home.asp?pid=1306).
SA Trade Release Table - http://www.sars.gov.za/home.asp?PID=65442&ToolID=2&ItemID=65727
Source: South African Revenue Service
