The South African Revenue Service (SARS) today releases trade statistics for June 2011 that record a trade surplus of R4.9 billion.
Summary
The trade surplus for June 2011 is R4.9 billion (Surplus of R5.6 billion in June 2010) compared to a deficit of R1.0 billion in May 2011, a month-to-month change of R5.9 billion in trade. The surplus was due to an increase in exports of R4.2 billion (7.5%) to R60.6 billion and a decrease in imports of R1.7. billion (-2.9%) to R55.7 billion.
The reduction in the trade deficit from R1.0 billion in May 2011 to a surplus of R4.9 billion in June 2011 was buoyed by higher commodity exports, specifically for precious and semi-precious stones and metals.
The cumulative trade deficit for the year to date is R2.6 billion compared to R8.7 billion in June 2010, an improvement of R6.1 billion (69.5%).
Trade highlights by category
The May to June change (up by 7.5%) in exports of goods reflected increases mainly in:
- Precious and semi-precious stones and metals increased by R2 068 million (14%);
- Mineral products increased by R 924 million (7%);
- Vegetable products increased by R 920 million (39%);
- Products of the chemical or allied industries increased by R 591 million (21%);
- Vehicles, aircraft and vessels increased by R 490 million (10%);
- Machinery and electrical appliances increased by R 313 million (7%) and
- A decrease in base metals and articles by R1 316 million (-15%).
The May to June change (down by -2.9%) in imports of goods reflected decreases mainly in:
- Mineral products decreased by R 998 million (-8%);
- Machinery and electrical appliances decreased by R 677 million (-5%);
- Vehicles, aircraft and vessels decreased by R 699 million (-12%); and
- An increase in original equipment components by R 86 million (2%).
Trade highlights by World Zone
The world zone results for May and June 2011 as given below are unaudited.
- Asia: The deficit increased from R 5.0 billion in May to R 5.1billion in June 2011. Exports increased by R 1.0 billion to R 20.6 billion and imports increased by R 1.2 billion to R 25.7 billion.
- Europe: The deficit decreased from R 3.1 billion in May to R 1.0 billion in June 2011. Exports increased by R 0.6 billion to R 16.4 billion and imports decreased by R 1.4 billion to R 17.4 billion.
- America: The deficit decreased from R 1.4 billion in May to R 0.1 billion in June 2011. Exports increased by R 0.7 billion to R 7.4 billion and imports decreased by R 0.6 billion to R 7.6 billion.
- Africa: The surplus increased from R 3.1 billion in May to R 4.9 billion in June 2011. Exports increased by R 0.9 billion to R 8.8 billion and imports decreased by R 0.8 billion to R 3.9 billion.
- Oceania: The deficit decreased from R 0.4 billion in May to R 0.3 billion in June 2011. Exports increased by R 0.01 billion to 0.6 billion and imports decreased by R 0.04 billion to R 0.9 billion.
For more detail, visit our Trade Statistics webpage.
Source: South African Revenue Service
