The South African Revenue Service (SARS) today releases trade statistics for December 2012 that record a trade deficit of R2.70 billion.
Summary
The R2.70 billion deficit for December 2012 arose from exports of R59.79 billion and imports of R62.49 billion.
Exports decreased from November to December by R6.5 billion (-9.8%) and imports decreased from November to December by R11.7 billion (-15.8%).
The decreased trade deficit of R2.70 billion in December 2012 from R7.9 billion in November 2012 was due to decreased imports of machinery and electrical appliances, original equipment components, and products of the chemicals or allied industries and exports decreased in Base metals and articles, vessels, aircraft and Machinery and electrical appliances.
The cumulative deficit for 2012 is R117.7 billion compared to R16.9 billion in 2011.
Trade highlights by category
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The November to December change (down by 9.8%) in exports of goods reflected decreases mainly in:
- Base metals and articles thereof decreased by R2 019 million (-23%);
- Vehicles, aircraft and vessels decreased by R1 078 million (-14%);
- Machinery and electrical appliances decreased by R944 million (-15%);
- Prepared foodstuffs, beverages and tobacco decreased by R774 million (-32%);
- Products of the chemicals or allied industries decreased by R536 million (-14%).
- The November to December change (down by 15.8%) in imports of goods reflected decreases mainly in:
- Machinery and electrical appliances decreased by R3 329 million (-19%);
- Original equipment components decreased by R1 781 million (-42%);
- Products of the chemicals or allied industries decreased by R1 523 million (-20%);
- Plastics and rubber and articles thereof decreased by R802 million (-28%);
- Textile and textile articles decreased by R757 million (-33%).
Trade highlights by world zone
The world zone results for November and December 2012 as given below are unaudited.
- Asia: The deficit decreased from R13.8billion in November to R 8.8billion in December 2012. Exports decreased by R 1.4billion to R20.7billion and imports decreased by R6.4billion to R29.5billion.
- Europe: The deficit decreased from R7.9billion in November to R4.1billion in December. Exports decreased by R1.4billion to R13.2billion and imports decreased by R5.2billion to R17.3billion.
- America: The deficit increased from R0.4billion in November to a surplus of R 0.4billion in December. Exports increased by R0.4billion to R8.0billion and imports decreased by R0.4billion to R7.6billion.
- Africa: The surplus decreased from R7.5billion in November to R4.1billion in December. Exports decreased by R2.7billion to R11.0billion and imports increased by R 0.8billion to R7.0billion.
- Oceania: The deficit decreased from R0.8billion in November to R0.4billion in December. Exports decreased by R 0.01billion to R0.6billion and imports decreased by R0.5billion to R1.1billion.
For more detail, visit the SARS website, www.sars.gov.za; Customs and Excise; Trade Data.
