Pretoria, 30 November 2012 - The South African Revenue Service (SARS) today releases trade statistics for October 2012 that record a trade deficit of R21.2 billion.
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 13.4bn in September to R 18.2bn in October 2012. Exports increased by R 3.1bn to R 21.6bn and imports increased by R 7.9bn to R39.8bn.
Europe: The deficit increased from R 8.3bn in September to R 10.9bn in October 2012. Exports increased by R 1.0bn to R 14.1bn and imports increased by R 3.6bn to R25.0bn.
America: The deficit increased from R 1.0bn in September to R 1.5bn in October 2012. Exports increased by R 1.7bn to R 8.4bn and imports increased by R 2.2bn to R 9.9bn.
Africa: The surplus increased from R 3.5bn in September to R 5.5bn in October 2012. Exports increased by R 0.3bn to R 12.2bn and imports decreased by R 1.7bn to R6.7bn.
Oceania: The deficit decreased from R 0.3bn in September to R 0.1bn in October 2012. Exports increased by R 0.1bn to R 0.7bn and imports decreased by R 0.1bn to R0.9bn.
For more detail, visit www.sars.gov.za; Customs and Excise; Trade Data
Statement issued by SARS, November 30 2012
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