SARS Media Release - South African Trade Statistics for May 2014

* Note to all Media - The numbers indicated in SQUARE BRACKETS EXCLUDE trade with BLNS countries, which was how monthly trade statistics were issued previously. The comparative figures in RED are included for the sake of transparency. The inclusion of BLNS country trade data was announced on 14 November 2013 and will be included in all future trade statistics

Pretoria, 30 June 2014 - The South African Revenue Service (SARS) today releases trade statistics that includes trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS) for May 2014 that recorded a trade deficit of R6.57 billion [trade deficit R15.56 billion].

Summary

The R6.57 billion deficit for May 2014 [trade deficit R15.56 billion] can be attributed to exports of R78.36 billion [R67.53 billion] and imports of R84.93 billion [R83.09 billion].

Exports increased [decreased] from April to May by R0.45 billion (0.6%) [R0.78 billion (1.1%)] and imports decreased from April to May by R5.37 billion (5.9%) [R5.01 billion (5.7%)]. The cumulative deficit for 2014 is R47.13 billion [R88.77 billion] compared to R34.56 billion [R67.22 billion] in 2013.

Trade Highlights by Category

The April to May change (up by 0.6%) [down by 1.1%] in exports of goods mainly reflected decreases and increases in:

Precious Metals & Stones decreased by R2 109 million (16.5%) [R2 550 million (20.0%)];

Vehicles & Transports Equipment decreased by R1 232 million (16.4%) [R1 252 million (20.0%)];

Mineral Products increased by R1 095 million (5.5%) [R 931 million (5.2%)];

Vegetable Products increased by R 618 million (18.2%) [R 583 million (20.0%)];

Machinery & Electronics increased by R 573 million (7.2%) [R 371 million (5.6%)];

Wood Pulp & Paper increased by R 436 million (34.8%) [R427 million (41.0%)].

The April to May change (down by 5.9%) [down by 5.7%] in imports of goods mainly reflected decreases and an increase in:

Vehicles & Transport Equipment decreased by R2 170 million (22.4%) [R2 088 million (21.7%)];

Machinery & Electronics decreased by R1 789 million (8.9%) [R1 799 million (9.0%)];

Chemical Products decreased by R 922 million (10.3%) [R 624 million (7.5%)];

Precious Metals & Stones increased by R 318 million (51.7%) [R 346 million (65.4%)].

Trade Highlights by World Zone

The world zone results for April 2014 to May 2014 as given below.

Africa: The surplus increased from R10 918 million [R3 517 million] in April 2014 to R13 734 million [R4 742 million] in May 2014. Exports increased by R2 711 million [R1 480 million] to R25 221 million [R14 393 million] and imports decreased [increased] by R104 million [R 256 million] to R11 487 million [R9 651 million].

America: The deficit increased from R 618 million in April 2014 to R1 597 million in May 2014. Exports decreased by R 573 million to R7 134 million and imports increased by R 407 million to R8 731 million.

Asia: The deficit decreased from R17 596 million in April 2014 to R15 766 million in May 2014. Exports decreased by R1 073 million to R24 008 million and imports decreased by R2 903 million to R39 774 million.

Europe: The deficit decreased from R10 268 million in April 2014 to R6 178 million in May 2014. Exports increased by R1 061 million to R17 254 million and imports decreased by R3 030 million to R23 432 million.

Oceania: The deficit increased from R 376 million in April 2014 to R 653 million in May 2014. Exports decreased by R 240 million to R 578 million and imports increased by R 37 million to R1 231 million.

Trade Statistics with BLNS countries-

Trade statistics with the BLNS for May 2014 recorded a trade surplus of R8.99 billion.

Summary

The R8.99 billion surplus for May 2014 can be attributed to exports of R10.83 billion and imports of R1.84 billion.

Exports increased from April to May by R1.23 billion (12.8%) and imports decreased from April to May by R0.36 billion (16.4%).

The cumulative surplus for 2014 is R41.64 billion compared to R32.65 billion in 2013.

Trade Highlights by Category

The April to May change (up by 12.8%) in exports of goods reflected increases in:

 Precious Metals & Stones increased by R 441 million (1466.8%);

 Machinery & Electronics increased by R 202 million (14.6%);

 Chemical Products increased by R 164 million (22.1%);

 Mineral Products increased by R 164 million (9.0%);

 Prepared Foodstuff increased by R 56 million (6.7%).

The April to May change (down by 16.4%) in imports of goods reflected decreases and an increase in:

 Chemical Products decreased by R 298 million (46.7%);

 Vehicles & Transport Equipment decreased by R 82 million (81.2%);

 Live Animals decreased by R 53 million (22.6%);

 Precious Metals & Stones decreased by R 28 million (32.5%);

 Prepared Foodstuff increased by R 92 million (30.5%).

Statement issued by Adrian Lackay, SARS Spokesperson, June 30 2014

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