South Africa Balance of Trade

South Africa recorded a trade deficit of 6571.54 ZAR Million in May of 2014. Balance of Trade in South Africa averaged -346.72 ZAR Million from 1957 until 2014, reaching an all time high of 10327.90 ZAR Million in December of 2010 and a record low of -24487.20 ZAR Million in January of 2013. Balance of Trade in South Africa is reported by the South African Revenue Service.


South Africa Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-6571.54 -12393.13 10327.90 -24487.20 1957 - 2014 ZAR Million Monthly
South Africa has been posting trade deficits primarily due to deterioration in commodities exports and high imports of fuel and high value added goods. The country is rich in mineral resources and is the world’s major exporter of chromium and platinum (8 percent of total exports). Other exports include: gold (8 percent), coal (6 percent), iron ores (7 percent) and motor vehicles and car parts (5 percent). Main imports are: fuel (24 percent of total imports), motor vehicles (10 percent), electronics (3 percent) and pharmaceuticals (2 percent). Main trading partners are Japan (10 percent of exports and 6 percent of imports) and Germany (7 percent of exports and 11 percent imports). Others include: United States, China and United Kingdom. This page provides - South Africa Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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 African Revenue Service | Joana Taborda |
6/30/2014 1:16:51 PM

Recent Releases

South Africa Trade Deficit Widens in April
South African trade gap increased 9.6 percent to ZAR 13 billion in April from a revised ZAR 11.8 billion in the previous month, as prolonged strikes in the mining sector keep dragging exports down. Published on 2014-05-30

South Africa Posts Sharp Trade Deficit in March
South African trade balance turned into a wider-than-expected ZAR 11.39 billion gap in March of 2014, following a revised ZAR 0.65 billion surplus in February, as mining sales fell and imports surged. Published on 2014-04-30

Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-03-31 01:00 PM South Africa
Balance of Trade
Feb 2014 ZAR 1.72B ZAR -16.93B (R) ZAR -2.1B
2014-04-30 01:00 PM South Africa
Balance of Trade
Mar 2014 ZAR -11.39B ZAR 0.647B (R) ZAR -1.0B ZAR -5.4B
2014-05-30 01:00 PM South Africa
Balance of Trade
Apr 2014 ZAR -13.03B ZAR -11.88B (R) ZAR -5.3B
2014-06-30 01:00 PM South Africa
Balance of Trade
May 2014 ZAR -6.57B ZAR -12.39B (R) ZAR -9.0B ZAR -6.1B
2014-07-31 01:00 PM South Africa
Balance of Trade
Jun 2014 ZAR -6.57B ZAR -3.6B

Trade Last Previous Highest Lowest Unit
Balance of Trade -6571.54 -12393.13 10327.90 -24487.20 ZAR Million [+]
Exports 78357.47 77908.64 86499.96 55.80 ZAR Million [+]
Imports 84929.02 90301.77 94716.44 66.10 ZAR Million [+]
Current Account -160970.00 -178875.00 14045.00 -216000.00 ZAR Million [+]
Current Account to GDP -5.80 -5.20 6.00 -7.50 Percent [+]
External Debt 138476.00 137095.00 138476.00 33262.00 USD Million [+]
Tourist Arrivals 1203851.00 1523745.00 1536884.00 37430.00 [+]
Gold Reserves 125.13 125.10 183.51 123.48 Tonnes [+]

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