The South African Revenue Service (SARS) today released trade statistics for January 2012 that record a trade deficit of R13.5 billion.
Summary
The trade deficit for January 2012 is R13.5 billion (Deficit of R4.9 billion in January 2011) compared to a surplus of R4.7 billion in December 2011, a month-on-month decline of R18.2 billion. Exports decreased by R8.98 billion (-14.3%) to R54.0 billion and imports increased by R9.23 billion (15.8%) to R67.5 billion.
The trade deficit of R13.5 billion in January 2012 was mainly due to decreased exports of precious and semi-precious stones and metals; vehicles, aircraft and vessels and machinery and electrical appliances and increased imports of machinery and electrical appliances; original equipment components and products of the chemicals or allied industries.
The cumulative deficit for 2012 is R13.5 billion compared to a cumulative deficit of R4.9 billion in 2011.
Trade Highlights by Category
- The December to January change (down by -14.3%) in exports of goods reflected changes mainly in:
- base metals and articles thereof increased by R 253 million (4%),
- mineral products increased by R227 million (1%),
- prepared foodstuffs, beverages and tobacco decreased by R 483 million (-29%),
- machinery and electrical appliances decreased by R1 146 million (-23%),
- vehicles, aircraft and vehicles decreased by R2 208 million (-43%); and
- precious and semi-precious stones and metals decreased by R4 835 million (-28%).
- The December to January change (up by 15.8 %) in imports of goods reflected changes mainly in:
- machinery and electrical appliances increased by R2 838 million (20%),
- original equipment components increased by R1 304 million (56%),
- products of the chemical or allied industries increased by R 970 million (19%),
- textile and textile articles increased by R709 million (45%),
- plastics and rubber and articles thereof increased by R672 million (30%),
- base metals and articles thereof increased by R672 million (24%).
- Precious and semi-precious stones and metals increased by R 479 million (194%),
- mineral products increased by R 321 million (2%); and
- vehicles, aircraft and vessels decreased by R 47 million (-1%).
Trade Highlights by World Zone
The world zone results for December 2011 and January 2012 as given below are unaudited.
- Asia: The deficit increased from R4.3 billion in December to R13.0 billion in January 2012. Exports decreased by R 2.4 billion to R19.9 billion and imports increased by R6.3 billion to R32.9 billion.
- Europe: The deficit increased from R2.7 billion in December to R6.3 billion in January 2012. Exports decreased by R0.4 billion to R14.8 billion and imports increased by R3.1 billion to R21.1 billion.
- America: The deficit increased from R1.1 billion in December to R2.6 billion in January 2012. Exports decreased by R1.0 billion to R5.9billion and imports increased by R0.5billion to R8.5 billion.
- Africa: The surplus decreased from R4.9 billion in December toR 3.7 billion in January 2012. Exports decreased by R2.2 billion to R7.4 billion and imports decreased by R1.0billion to R3.7 billion.
- Oceania: The deficit increased from R0.3 billion in December to R0.7 billion in January 2012. Exports decreased by R0.01 billion to R0.5 billion and imports increased by R0.3 billion to R1.2 billion.
