South African Revenue Service (SARS) releases trade statistics for July 2018

June 2018’s trade surplus was revised downwards by R0.11 billion from the previous month’s preliminary surplus of R12.00 billion to a revised surplus of R11.89 billion

PRETORIA, South Africa, September 4, 2018,-/African Media Agency (AMA)/- SARS releases trade statistics for July 2018 Pretoria, 31 August 2018 – The South African Revenue Service (SARS) today releases trade statistics for July 2018 recording a trade deficit of R4.66 billion. These statistics include trade data with Botswana, Eswatini, Lesotho and Namibia (BELN). The year-to-date (01 January to 31 July 2018) trade deficit of R6.51 billion is a deterioration on the surplus for the comparable period in 2017 of R33.21 billion. Exports year-to-date increased by 3.6% whilst imports for the same period showed an increase of 10.2%. Including trade data with Botswana, Eswatini, Lesotho and Namibia (BELN) The R4.66 billion trade deficit for July 2018 is attributable to exports of R107.06 billion and imports of R111.72 billion. Exports decreased from June 2018 to July 2018 by R2.96 billion (2.7%) and imports increased from June 2018 to July 2018 by R13.58 billion (13.8%).

Exports for the year-to-date (01 January to 31 July) increased by 3.6% from R653.47 billion in 2017 to R677.06 billion in 2018. Imports for the year-to-date of R683.57 billion are 10.2% more than the imports recorded in January to July 2017 of R620.26 billion, leaving a cumulative trade deficit of R6.51 billion for 2018. On a year-on-year basis, the R4.66 billion trade deficit for July 2018 is an deterioration from the surplus recorded in July 2017 of R 8.58 billion. Exports of R107.06 billion are 16.0% more than the exports recorded in July 2017 of R92.30 billion. Imports of R111.72 billion are 33.5% more than the imports recorded in July 2017 of R83.71 billion. June 2018’s trade surplus was revised downwards by R0.11 billion from the previous month’s preliminary surplus of R12.00 billion to a revised surplus of R11.89 billion as a result of ongoing Vouchers of Correction (VOC’s).

Distributed by African Media Agency (AMA) on behalf of Statistics South Africa.