South Africa Trade Deficit at 7-Month High


South African trade gap widened to ZAR 16.3 billion in August of 2014 from a revised ZAR 6.83 billion shortfall in the previous month. It is the highest trade deficit since January, hurt by a drop in exports.

Exports decreased from July to August by ZAR 8.19 billion (-9.6 percent) to ZAR 77.2 billion. Shipments of vehicles and transport equipment rose 12.6 percent whic was not enough to offset a 24.1 percent drop in sales of mineral products. Exports of vegetables fell 19.4 percent and sales of precious metals and stones decreased 14.6 percent.

Imports increased from July to August by ZAR 1.28 billion (+1.4 percent) to ZAR 93.5 billion. Imports of mineral products recorded the highest increase (+10.8 percent), followed by vehicle and transport equipment (+7.2 percent).

The cumulative deficit for 2014 is ZAR 70.74 billion compared to ZAR 51.88 billion in 2013.

Excluding trade with neighbors Botswana, Lesotho, Namibia and Swaziland, the country’s trade gap amounted to ZAR 23.94 billion in August and ZAR 136.73 billion in 2014.

South Africa Trade Deficit at 7-Month High


South African Revenue Service | Joana Taborda | joana.taborda@tradingeconomics.com
9/30/2014 1:27:32 PM