The South African Revenue Service (SARS) today releases trade statistics for October 2012 that record a trade deficit of R21.2 billion.
Summary
The R21.2 billion deficit for October 2012 was due to an increase in exports of 7.8% and an increase in imports of 16.7%.
Exports increased by R4.4 billion (7.8%) and imports increased by R11.8 billion (16.7%).
The increased trade deficit of R21.2 billion for October 2012 was mainly due to increased imports of machinery and electrical appliances, chemical products and vehicles, aircraft and vessels.
The cumulative deficit for the year to date is R104.6 billion compared to R9.4 billion for the same period in 2011.
Trade Highlights by Category
The September to October change (up by 7.8%) in exports of goods reflected increases/decreases mainly in:
- Mineral products increased by R2 907 million (22%)
- Base metals and articles thereof increased by R1 105 million (16%)
- Machinery and electrical appliances increased by R1 067 million (21%)
- Products of the chemical or allied industries increased by R 847 million (29%)
- Precious and semi-precious stones and metals decreased by R1 931 million (-14%)
The September to October change (up by 16.7%) in imports of goods reflected increases mainly in:
- Machinery and electrical appliances increased by R4 313 million (27%)
- Products of the chemical or allied industries increased by R1 203 million (19%)
- Vehicles, aircraft and vessels increased by R1 052 million (13%)
- Mineral products increased by R 854 million (5%)
- Original equipment components increased by R 666 million (15%)
Trade Highlights by World Zone
The world zone results for September and October 2012 as given below are unaudited.
Asia
The deficit increased from R 13.4 billion in September to R 18.2 billion in October 2012. Exports increased by R 3.1 billion to R 21.6 billion and imports increased by R 7.9 billion to R39.8 billion.
Europe
The deficit increased from R 8.3 billion in September to R 10.9 billion in October 2012. Exports increased by R 1.0 billion to R 14.1 billion and imports increased by R 3.6 billion to R25.0 billion.
America
The deficit increased from R 1.0 billion in September to R 1.5 billion in October 2012. Exports increased by R 1.7 billion to R 8.4 billion and imports increased by R 2.2 billion to R 9.9 billion.
Africa
The surplus increased from R 3.5 billion in September to R 5.5 billion in October 2012. Exports increased by R 0.3 billion to R 12.2 billion and imports decreased by R 1.7 billion toR6.7 billion.
Oceania
The deficit decreased from R 0.3 billion in September to R 0.1 billion in October 2012. Exports increased by R 0.1 billion to R 0.7 billion and imports decreased by R 0.1 billion to R0.9 billion.
