South Africa Trade Deficit Down to 3-Month Low


South African trade gap decreased to ZAR 0.65 billion in May of 2014 from a revised ZAR 12.4 billion in the previous month. It is the lowest shortfall in three months, due to a sharp fall in imports.

Exports rose a meager 0.6 percent to ZAR 78.36 billion from April to May. Sales of wood pulp and paper jumped 34.8 percent and those of vegetables products surged 18.2 percent. Shipments of mineral products rose 5.5 percent while those of precious metals and stones fell 16.5 percent.

Imports decreased sharply by 5.9 percent to ZAR 84.93 billion in May. Purchases of vehicles and transport equipment fell the most on the month by 22.4 percent, followed by chemical products (-10.3 percent) and machinery and electronics (-8.9 percent). In contrast, imports of precious metals and stones rose 51.7 percent. 

The cumulative deficit for 2014 amounts to ZAR 47.13 billion, compared with ZAR 34.56 billion over the same period in 2013.

South Africa Trade Deficit Down to 3-Month Low


South African Revenue Service | Joana Taborda | joana.taborda@tradingeconomics.com
6/30/2014 1:16:51 PM