The South African Revenue Service (SARS) today releases trade statistics for February 2010 that record a trade deficit of R5.7 billion.
Summary
The R5.7 billion deficit for February 2010 was due to an increase in imports of 14.96 percent and an increase in exports of 10.06 percent.
Exports for February 2010 of R40.26 billion and imports of R45.95 billion resulted in a deficit of R5.69 billion. Imports increased by R5.98 billion (14.96 percent) to R45.95 billion and exports increased by R3.68 billion (10.06 percent) to R40.26 billion.
The monthly trade deficit for February 2010 is R5.69 billion compared to a deficit of R0.57 billion in February 2009, an increase of R5.12 billion or 90 percent and the cumulative deficit for the year is R9.08 billion compared to R18.53 billion in 2009.
Trade highlights by category
The January to February change (up by 14.96 percent) in imports of goods reflected increases mainly in:
* mineral products: up by R4.4 billion, (69 percent) and
* an increase in vehicles, aircraft and vessels: up by R1.5 billion (41 percent)
The January to February change (up by 10.06 percent) in exports of goods reflected increases mainly in:
* base metals and articles thereof: up by R1.1 billion (17 percent)
* precious and semi-precious stones and metals: up by R0.8 billion (eight percent)
* machinery and electrical appliances: up by R0.8 billion (27 percent) and
* vehicles, aircraft and vessels: up by R0.5 billion (19 percent)
Trade highlights by world zone
The world zone results for February 2010 as given below are unaudited, and those for January 2010 are audited.
* Asia: The deficit increased from R5.3 billion in January 2010 to R6 billion in February 2010. Exports increased by R0.8 billion to R12.8 billion and imports increased by R1.5 billion to R18.8 billion.
* Europe: The deficit increased from R2.6 billion in January 2010 to R4.5 billion in February 2010. Exports decreased by R0.7 billion to R11.4 billion and imports increased by R1.2 billion to R15.9 billion.
* America: The deficit increased from R0.6 billion in January 2010 to R0.9 billion in February 2010. Exports decreased by R0.1 billion to R3.7 billion and imports increased by R0.2 billion to R4.6 billion.
* Africa: The surplus decreased from R3 billion in January 2010 to R1.8 billion in February 2010. Exports increased by R1.6 billion to R7.1 billion and imports increased by R2.8 billion to R5.3 billion.
For more details on trade statistics follow the provided link: http://www.sars.gov.za/home.asp?pid=1306
Issued by: South African Revenue Service
31 March 2010
Source: South African Revenue Service (http://www.sars.gov.za/)
