The South African Revenue Service (SARS) today releases trade statistics for January 2011 that record a trade deficit of R4.9 billion.
Summary
The R4.9 billion deficit for January 2011 was due to a decrease in exports of 17.0% and an increase in imports of 14.0%.
Exports for January 2011 of R44.8 billion and imports of R49.7 billion resulted in a deficit of R4.9 billion.
Exports decreased by R9.1 billion (17.0%) and imports increased by R6.1 billion (14.0%).
The trade deficit for January 2011 is R4.9 billion. (Deficit of R3.4 billion in January 2010) compared to a surplus of R10.3 billion in December 2010, a month-on-month decline of R15.2 billion.
The trade deficit for January 2011 was buoyed by higher commodity imports, specifically in machinery and electrical appliances, original equipment components and products of the chemicals or allied industries.
The cumulative deficit for January 2011 is R4.9 billion compared to R3.4 billion in 2010, a decline of R1.5 billion or 45.3%.
Trade highlights by category
The December 2010 to January 2011 change (down by -17.0%) in exports of goods reflected decreases mainly in:
- Machinery and electrical appliances decreased by R825 million (-20%);
- Vehicles, aircraft and vessels decreased by R2 230 million (-48%);
- Mineral products decreased by R2 503 million (-19%);
- Precious and semi-precious stones and metals decreased by R2 958 million (-21%) and
- An increase in base metals and articles thereof by R758 million (10%).
The December 2010 to January 2011 change (up by 14.0%) in imports of goods reflected increases mainly in:
- Machinery and electrical appliances increased by R1 849 million (17%);
- Original equipment components increased by R1 306 million (67%).
- Products of the chemicals or allied industries increased by R906 million (24%);
- Base metals and articles thereof increased by R806 million (51%);
- Plastics and rubber and articles thereof increased by R464 million (29%);
- Textile and textile articles increased by R428 million (34%) and
- Decreases in mineral products by R264 million (-3%) and
- Vehicles, aircraft and vessels by R131 million (-2%).
Trade highlights by world zone
- Asia: The deficit increased from R2.1 billion in December to R4.9 billion in January 2011. Exports decreased by R1.5 billion to R16.6 billion and imports increased by R1.3 billion to R21.5 billion.
- Europe: The surplus of R0.2 billion in December changed to a deficit of R4.8 billion in January 2011. Exports decreased by R1.1 billion to R13.0 billion and imports increased by R3.9 billion to R17.8 billion.
- America: The surplus of R0.6 billion in December changed to a deficit of R2.1 billion in January 2011. Exports decreased by R2.2 billion to R3.9 billion and imports increased by R0.5 billion to R6.0 billion.
- Africa: The surplus decreased from R5.3 billion in December to R2.9 billion in January 2011. Exports decreased by R2.0 billion to R6.3 billion and imports increased by R0.4 billion to R3.4 billion.
- Oceania: The deficit increased from R0.2 billion in December to R0.4 billion in January 2011. Exports decreased by R0.3 billion to R0.5 billion and imports decreased by R0.01 billion to R0.9 billion.
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