South African Trade Statistics for May 2011

The South African Revenue Service (SARS) today releases trade statistics for May 2011 that record a trade deficit of R1.0 billion.

Summary

The trade deficit for May 2011 is R1.0 billion (Deficit of R0.04 billion in May 2010) compared to a deficit of R2.4 billion in April 2011, a month to month decrease of R1.4 billion. The deficit was due to an increase in exports of R4.6 billion (9.0%) to R56.3 billion and an increase in imports of R32 billion (6.0%) to R57.3 billion.

The reduction in the trade deficit from R2.4 billion in April 2011 to R1.0 billion in May 2011 was underpinned by higher commodity exports, specifically precious and base metals.

The cumulative deficit for the year to date is R8.5 billion compared to R13.5 billion in 2010, an improvement of R5.0 billion or 36.9%.

Trade highlights by category

The April to May change (up by 9.0%) in exports of goods reflected increases mainly in:

• Precious and semi-precious stones and metals increased by R1 822 million (14%)
• Base metals and articles thereof increased by R1 162 million (15%)
• Vegetable products increased by R 660 million (40%)
• Vehicles, aircraft and vessels increased by R 532 million (13%)
• Machinery and electrical appliances increased by R102 million (2%) 
• A decrease in mineral products by R 349 million (-3%).

The April to May change (up by 6.0%) in imports of goods reflected increases mainly in:

• Machinery and electrical appliances increased by R 867 million (7%);
• Original equipment components increased by R 811 million (28%);
• Base metals and articles thereof increased by R 762 million (35%);
• Plastics and rubber and articles thereof increased by R 449 million (23%);
• Vehicles, aircraft and vessels increased by R 221 million (4%) and
• A decrease in mineral products by R1 764 million (-12%).

Trade Highlights by World Zone

The world zone results for April and May 2011 as given below are unaudited.

• Asia: The deficit decreased from R 5.9 billion in April to R 5.0 billion in May 2011. Exports increased by R1.4 billion to R 19.6 billlion and imports increased by R 0.5 billion to R 24.6 billion.
• Europe: The deficit decreased from R 3.2 billion in April to R 3.0 billion in May 2011. Exports increased by R1.6 billion to R 15.8 billion. and imports increased by R 1.4 billion to R 18.8 billion.
• America: The deficit increased from R 1.1 billion in April to R 1.3 billion in May 2011. Exports increased by R 0.7 billion. to R 6.8 billion and imports increased by R 0.9 billion to R 8.1 billion.
• Africa: The surplus decreased from R 3.4 billion in April to R 3.1 billion in May 2011. Exports decreased by R0.01bn to R 7.8 billion and imports increased by R 0.2 billion to R 4.7 billion.
• Oceania: The deficit increased from R 0.1 billion in April to R 0.4 billion in May 2011. Exports decreased by R0.1 billion to R 0.5 billion and imports increased by R 0.2 billion to R 0.9 billion.

For more details, visit our Trade Statistics webpage.

Source: South African Revenue Service