South Africa Posts Record Trade Deficit in January


South Africa recorded a ZAR 24.22 billion trade gap in January of 2015 compared with a revised four-year high ZAR 6.66 billion surplus in the previous month. It is the highest trade deficit on record due to a sharp drop in exports.

Exports decreased from December 2014 to January 2015 by 23.1 percent to ZAR 67.08 billion. Sales of precious metals and stones recorded the highest drop (-35.4 percent), followed by vehicle and transport equipment (-27.3 percent), machinery and electronics (-25 percent), mineral products (-19.4 percent) and base metals (-13.5 percent). 

Imports rose 13.3 percent from December 2014 to January 2015 to ZAR 91.3 billion. Purchases of equipment components jumped 44.7 percent and those of base metals increased 40.6 percent. 

Excluding trade with neighbor countries, South Africa posted a ZAR 31.33 billion deficit in January. 

South Africa Posts Record Trade Deficit in January


South African Revenue Service | Joana Taborda | joana.taborda@tradingeconomics.com
2/27/2015 12:44:48 PM