South African Revenue Service releases trade statistics for December 2017

The South African Revenue Service (SARS) today releases trade statistics for December 2017 recording a trade balance surplus of R15.72 billion.

These statistics include trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS). The year-to-date (01 January to 31 December 2017) trade balance surplus of R80.55 billion is an improvement on the surplus for the comparable period in 2016 of R1.05 billion. Exports for the year-to-date grew by 7.9% whilst imports for the same period showed an increase of 0.7%.

Including trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS)

The R15.72 billion trade balance surplus for December 2017 is attributable to exports of R104.32 billion and imports of R88.60 billion. Exports decreased from November 2017 to December 2017 by R11.87 billion (10.2%) and imports decreased from November 2017 to December 2017 by R14.54 billion (14.1%). Exports for the year-to-date (01 January to 31 December 2017) grew by 7.9% from R1 100.32 billion in 2016 to R1 187.45 billion in 2017.

Imports for the year-to-date of R1 106.90 billion are 0.7% more than the imports recorded in January to December 2016 of R1 099.27 billion, leaving a cumulative trade balance surplus of R80.55 billion for 2017. On a year-on-year basis, the R15.72 billion trade balance surplus for December 2017 is an improvement from the surplus recorded in December 2016 of R12.27 billion. Exports of R104.32 billion are 11.5% more than the exports recorded in December 2016 of R93.52 billion. Imports of R88.60 billion are 9.0% more than the imports recorded in December 2016 of R81.25 billion. November 2017’s trade balance surplus was revised upwards by R0.03 billion from the previous month’s preliminary surplus of R13.02 billion to a revised surplus of R13.05 billion as a result of ongoing Vouchers of Correction (VOC’s).

Source: Government of South Africa