The South African Revenue Service (SARS) today releases trade statistics for January 2013 that record a trade deficit of R24.53 billion.
Summary
The R24.53 billion deficit for January 2013 arose from exports of R53.28 billion and imports of R77.80 billion.
Exports decreased from December to January by R6.51 billion (-10.9%) and imports increased from December to January by R15.31 billion (24.5%).
The increased trade deficit of R24.53 billion in January 2013 from R2.70 billion in December 2012 was due to increased imports of machinery and electrical appliances, mineral products, base metals, chemical products, plastics and rubber, textile and textile articles, and original equipment components. Exports decreased in precious & semi-precious metals, machinery and electronics, vehicles, vessels and aircraft.
Trade highlights by category
The December to January change (down by 10.9%) in exports of goods reflected decreases mainly in:
- Precious and semi-precious stones and metals decreased by R2 720 million (-19%);
- Machinery and electrical appliances decreased by R1 544 million (-28%);
- Vehicles, aircraft and vessels decreased by R2 538 million (-39%);
The December to January change (up by 24.5%) in imports of goods reflected increases mainly in:
- Mineral products increased by R1 825 million (11%);
- Products of the chemicals or allied industries increased by R1 195 million (20%);
- Plastics and rubber and articles thereof increased by R1 121 million (53%);
- Textile and textile articles increased by R 821 million (53%);
- Base metals and articles thereof increased by R1 477 million (63%);
- Machinery and electrical appliances increased by R5 036 million (35%);
- Original equipment components increased by R2 095 million (84%);
Trade Highlights by World Zone
The world zone results for December 2012 and January 2013 as given below are unaudited.
- Asia: The deficit increased from R 8.81 billion in December 2012 to R 18.73 billion in January 2013. Exports decreased by R 2.63 billion to R 18.05 billion and imports increased by R 7.29 billion to R36.79 billion.
- Europe: The deficit increased from R 4.10 billion in December 2012 to R 9.70 billion in January 2013. Exports increased by R 1.60 billion to R 14.80 billion and imports increased by R 7.20 billion to R 24.50 billion.
- America: The deficit increased from R 0.4 billion surplus in December 2012 to a deficit of R 2.47 billion in January 2013. Exports decreased by R 2.30 billion to R 5.75 billion and imports increased by R 0.62 billion to R 8.21 billion.
- Africa: The surplus decreased from R 4.10 billion in in December 2012 to R 1.80 billion in January 2013. Exports decreased by R 2.03 billion to R 9.02 billion and imports increased by R 0.30 billion to R 7.25 billion.
- Oceania: The deficit decreased from R 0.50 billion in December 2012 to R 0.42 billion in January 2013. Exports decreased by R 0.05 billion to R 0.50 billion and imports decreased by R 0.08 billion to R 1.00 billion.
