The South African Revenue Service (SARS) today releases trade statistics for July 2012 that record a trade deficit of R6.7 billion.
Summary
The trade deficit for July 2012 increased by R1 billion to R6.7 billion (deficit of R4.0 billion in July 2011) from a deficit of R5.7 billion in June 2012. Exports increased by R1.8 billion (2.9%) to R63.5 billion and imports increased by R2.8 billion (4.1%) to R70.2 billion.
The increased trade deficit of R6.7 billion in July 2012 was mainly due to increased imports of machinery and electrical appliances, products of the chemicals or allied industries, and original equipment components.
The cumulative deficit for the year to date is R57.3 billion compared to R6.9 billion in 2011.
Trade Highlights by Category
The June to July change (up by 2.9%) in exports of goods reflected increases mainly in:
- Mineral products increased by R1 823 million (12%).
- Products of the chemical or allied industries increased by R1 416 million (44%).
- Precious and semi-precious stones and metals decreased by R 402 million (-3%) and
- Base metals and articles thereof decreased by R 923 million (-12%).
The June to July change (up by 4.1%) in imports of goods reflected increases mainly in:
- Machinery and electrical appliances increased by R2 202 million (14%).
- Products of the chemical or allied industries increased by R1 435 million (28%).
- Original equipment components increased by R 661 million (15%).
- Vegetable products increased by R 527 million (50%).
- Base metals and articles thereof increased by R 472 million (16%).
- Textile and textile articles increased by R 444 million (28%).
- Vehicles, aircraft and vessels decreased by R 252 million (-3%) and
- Mineral products decreased by R3 284 million (-20%).
Trade Highlights by World Zone
The world zone results for June and July 2012 as given below are unaudited.
- Asia The deficit increased from R 9.2 billion in June to R 10.5 billion in July 2012. Exports increased by R 0.3 billion to R 21.9 billion and imports increased by R 1.6 billion to R 32.5 billion.
- Europe The deficit increased from R 5.3 billion in June to R 6.4 billion in July 2012. Exports increased by R 0.2 billion to R 14.6 billion and imports increased by R 1.3 billion to R 21.0 billion.
- America The deficit increased from R 1.7 billion in June to R 1.8 billion in July 2012. Exports increased by R 0.06 billion to R 7.0 billion and imports increased by R 0.1 billion to R 8.7 billion.
- Africa The surplus increased from R 3.8 billion in June to R 5.9 billion in July 2012. Exports increased by R 1.5 billion to R 12.6 billion and imports decreased by R 0.6 billion to R 6.6 billion.
- Oceania The deficit increased from R 0.05 billion in June to R 0.6 billion in July 2012. Exports decreased by R 0.1 billion to R 0.7 billion and imports increased by R 0.4 billion to R 1.3 billion.
