The South African Revenue Service (SARS) today releases trade statistics for May 2012 that record a trade deficit of R8.9 billion.
Summary
The trade deficit for May 2012 declined to R8.9 billion (Deficit of R1.5 billion in May 2011) compared to a deficit of R9.9 billion in April 2012, a month on month decrease of R1.0 billion. Exports increased by R10.6 billion (20.4%) to R62.8 billion and imports increased by R9.7 billion (15.6%) to R71.7 billion.
The decline of the trade deficit to R8.9 billion in May 2012 was mainly due to increased exports of precious and semi-precious stones, mineral products and machinery and electrical appliances and increased imports of mineral products and machinery and electrical appliances.
The cumulative deficit for the year to date is R45.8 billion compared to R7.5 billion in 2011.
Trade Highlights by Category
- The April to May change (up by 20.4%) in exports of goods reflected increases mainly in:
- Precious and semi-precious stones and metals increased by R3 808 million (37%),
- Mineral products increased by R2 583 million (17%),
- Machinery and electrical appliances increased by R 976 million (22%),
- Vegetable products increased by R865 million (50%),
- Vehicles, aircraft and vessels increased by R670 million (15%),
- Prepared foodstuffs, beverages and tobacco increased by R 651 million (43%) and
- Base metals and articles thereof increased by R630 million (9%).
- The April to May change (up by 15.6%) in imports of goods reflected increases mainly in:
- Mineral products increased by R5 909 million (45%),
- Machinery and electrical appliances increased by R1 188 million (7%),
- Original equipment components increased by R676 million (16%),
- Vehicles, aircraft and vessels increased by R606 million (9%) and
- Products of the chemical or allied industries increased by R 427 million (8%).
Trade Highlights by World Zone
The world zone results for April and May 2012 as given below are unaudited.
- Asia: The deficit decreased from R11.4 billion in April to R 10.0 billion in May 2012. Exports increased by R3.3billion to R 22.1 billion and imports increased by R 1.9 billion to R 32.0 billion.
- Europe: The deficit decreased from R7.7 billion in April to R5.0 billion in May 2012. Exports increased by R3.7 billion to R15.5 billion and imports increased by R 1.0 billionto R 20.5 billion.
- America: The deficit decreased from R2.0 billion in April to R1.4 billion in May 2012. Exports increased by R0.6 billion to R6.6 billion and imports decreased by R 0.02 billion to R 8.1 billion.
- Africa: The surplus decreased from R5.5 billion in April to R2.0 billion in May 2012. Exports increased by R2.6 billionto R 11.4 billion and imports increased by R 6.0 billion to R 9.3 billion.
- Oceania The deficit increased from R0.2 billion in April to R 0.9 billion in May 2012. Exports decreased by R0.03 billion to R0.7 billion and imports increased by R0.7 billion to R1.6b billion.
