SARS Media Release - South African Trade Statistics for September 2012

Pretoria, 31 October 2012 - The South African Revenue Service (SARS) today releases trade statistics for September 2012 that record a trade deficit of R13.8 billion.

Summary

The R13.8 billion deficit for September 2012 was due to a decrease in exports of 7.7% and a decrease in imports of 4.2%.

Exports for September 2012 of R56.7 billion and imports of R70.5 billion resulted in a deficit of R13.8 billion.

Exports decreased by R4.7 billion (-7.7%) and imports decreased by R3.1 billion (-4.2%).

The trade deficit for September 2012 is R13.8 billion (surplus of R2.5 billion in September 2011) compared to a deficit of R12.2 billion in August 2012, a month-on-month increase of R1.6 billion.

The cumulative deficit for the year to date is R86.1 billion compared to R5.8 billion in 2011.

Trade Highlights b y Category

The August to September change (down by -7.7%) in exports of goods reflected decreases mainly in:

• Precious and semi-precious stones and metals decreased by R 535 million (-4%);
• Mineral products decreased by R 583 million (-4%);
• Base metals and articles thereof decreased by R 709 million (-9%);
• Machinery and electrical appliances decreased by R 884 million (-15%) and
• Vegetable products decreased by R 967 million (-30%).

The August to September change (down by -4.2%) in imports of goods reflected decreases mainly in:Vehicles, aircraft and vessels increased by R 906 million (13%);

• Mineral products decreased by R 370 million (-2%);
• Machinery and electrical appliances decreased by R 614 million (-4%);
• Products of the chemical or allied industries decreased by R 935 million (-13%); and
• Original equipment components decreased by R 985 million (-19%).

Trade Highlights by World Zone

The world zone results for August and September 2012 as given below are unaudited.

Asia: The deficit increased from R 11.3bn in August to R 13.4bn in September 2012. Exports decreased by R 2.2bn to R 18.5bn and imports decreased by R 0.1bn to R 31.9bn.

Europe: The deficit increased from R 8.3bn in August to R 8.3bn in September 2012. Exports decreased by R 1.0bn to R 13.1bn and imports decreased by R 1.0bn to R 21.4bn.

America: The deficit increased from R 0.5bn in August to R 1.0bn in September 2012. Exports decreased by R 0.9bn to R 6.7bn and imports decreased by R 0.3bn to R 7.7bn.

Africa: The surplus increased from R 1.8bn in August to R 3.5bn in September 2012. Exports decreased by R 0.1bn to R 11.9bn and imports decreased by R 1.8bn to R 8.4bn.

Oceania: The deficit increased from R 0.0bn in August to R 0.3bn in September 2012. Exports decreased by R 0.3bn to R 0.6bn and imports increased by R 0.0bn to R 1.0bn.

Statement issued by SARS, October 31 2012

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