The South African Revenue Service (SARS) today releases trade statistics for June 2012 that record a trade deficit of R5.7 billion.
Summary
The trade deficit for June 2012 declined by R3.2 billion to R5.7 billion (surplus of R4.9 billion in June 2011) from a deficit of R8.9 billion in May 2012. Exports decreased by R1.1 billion (1.7%) to R61.7 billion and imports decreased by R4.3 billion (6.0%) to R67.4 billion.
The reduced trade deficit of R5.7 billion in June 2012 was mainly due to a decrease in exports of mineral products and decreased imports of mineral products, machinery and electrical appliances, products of the chemicals or allied industries, base metals and articles thereof and original equipment components.
The cumulative deficit for the year to date is R51.1 billion compared to R2.5 billion in 2011.
Trade highlights by category
The May to June 2012 change (down by -1.7%) in exports of goods reflected increases mainly in:
- Vehicles, aircraft and vessels increased by R814 million (15%)
- Vegetable products increased by R699 million (27%)
- Precious and semi-precious stones and metals increased by R486 million (3%)
- Base metals and articles thereof increased by R118 million (2%) and
- A decrease in mineral products by R2 337 million (-13%).
The May to June 2012 change (down by -6.0%) in imports of goods reflected decreases mainly in:
- Mineral products decreased by R2 095 million (-11%)
- Machinery and electrical appliances decreased by R1 204 million (-7%)
- Products of the chemical or allied industries decreased by R 657 million (-11%)
- Base metals and articles thereof decreased by R 498 million (-14%)
- Original equipment components decreased by R 461 million (-10%) and
- An increase in Vehicles, aircraft and vessels by R 525 million (7%).
Trade highlights by World Zone
The world zone results for May and June 2012 as given below are unaudited.
Asia
The deficit decreased from R10.0 billion in May to R9.2 billion in June 2012. Exports decreased by R0.4 billion to R21.6 billion and imports decreased by R1.2 billion to R30.9 billion.
Europe
The deficit increased from R5.0 billion in May to R5.3 billion in June 2012. Exports decreased by R1.1 billion to R14.4 billion and imports decreased by R0.8 billion to R19.7 billion.
America
The deficit increased from R1.4 billion in May to R1.7 billion in June 2012. Exports increased by R0.3 billion to R6.9 billion and imports increased by R0.6 billion to R8.6 billion.
Africa
The surplus increased from R2.0 billion in May to R3.8 billion in June 2012. Exports decreased by R0.3 billion to R11.0 billion and imports decreased by R2.1 billion to R7.2 billion.
Oceania
The deficit decreased from R0.9 billion in May to R0.05 billion in June 2012. Exports increased by R0.1 billion to R0.8 billion and imports decreased by R0.8 billion to R0.9 billion.
