South African Trade Deficit Widens in July
In July of 2013, South African trade deficit increased to ZAR 14.2 billion, from ZAR 7.71 billion in June as imports rose more than exports.
8/30/2013 1:54:20 PM
The 14.21 billion ZAR deficit for July 2013 can be attributed to exports of R75.69 billion and imports of R89.89 billion.
Exports increased from June to July by 7.45 billion ZAR (10.9%) and imports increased from to June to July by 13.97 billion ZAR (18.4%).
The June to July change (up by 10.9%) in exports of goods reflected increases mainly in: Precious and semi-precious stones and metals increased by 3.1 billion ZAR (22%); Base metals and articles thereof increased by 1.3 billion ZAR (16%); Machinery and electrical appliances increased by 1 billion ZAR (18%); Vegetable products increased by 583 million ZAR (14%); Vehicles, aircraft and vessels increased by 564 million ZAR (8%); Products of the chemicals or allied industries increased by 526 million ZAR (15%);
The June to July change (up by 18.4%) in imports of goods reflected increases mainly in: Machinery and electrical appliances increased by 3.8 billion (19%); Vehicles, aircraft and vessels increased by 2.4 billion (32%); Products of the chemicals or allied industries increased by 2.3 million (34%); Original equipment components increased by 1.2 billion (23%); Vegetable products increased by 906 million ZAR (78%); Plastics and rubber and articles increased by 761 million ZAR (27%); Textile and textile articles increased by 610 million ZAR (29%); Base metals and articles increased by 480 million ZAR (12%); Footwear, headgear, umbrellas and articles increased by 449 million ZAR (67%).
The cumulative deficit for 2013 is R89.37 billion compared to R59.02 billion in 2012.