South Africa Balance of Trade

South Africa recorded a trade surplus of 1719.97 ZAR Million in February of 2014. Balance of Trade in South Africa is reported by the South African Revenue Service. Balance of Trade in South Africa averaged -301.71 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. 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. 2014-04-19

Actual Previous Highest Lowest Forecast Dates Unit Frequency
1719.97 -16933.28 10327.90 -24487.20 -2088.58 | 2014/02 1957 - 2014 ZAR Million Monthly

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South Africa Balance of Trade
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-12-30 12:00 PM South Africa
Balance of Trade
Nov 2013 ZAR 0.77B ZAR -12.4B ZAR -13.9B
2014-01-31 12:00 PM South Africa
Balance of Trade
Dec 2013 ZAR 2.78B ZAR 0.69B (R) ZAR -7.9B
2014-02-28 12:00 PM South Africa
Balance of Trade
Jan 2014 ZAR -17.06B ZAR 2.78B ZAR -7B
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 1.72B ZAR -5.4B
2014-05-30 01:00 PM South Africa
Balance of Trade
Apr 2014 ZAR -4.6B
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Trade Last Previous Highest Lowest Forecast Unit
Current Account -178875.00 2013-11-15 -216000.00 14045.00 -216000.00 -192033.95 2014-03-31 ZAR Million [+]
Balance of Trade 1719.97 2014-02-15 -16933.28 10327.90 -24487.20 -2088.58 2014-02-28 ZAR Million [+]
Exports 83927.75 2014-02-15 77783.16 86499.96 55.80 81456.30 2014-02-28 ZAR Million [+]
Imports 82207.78 2014-02-15 94716.44 94716.44 66.10 82861.91 2014-02-28 ZAR Million [+]
External Debt 137095.00 2013-12-31 136621.00 137513.00 33262.00 135618.53 2014-03-31 USD Million [+]
Tourist Arrivals 1283885.00 2013-10-15 1252142.00 1331934.00 37430.00 1293634.42 2013-11-30 [+]
Current Account to GDP -5.80 2013-12-31 -5.20 6.00 -7.50 -5.79 2014-06-30 Percent [+]
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South Africa Posts Trade Surplus in February

South African trade balance turned into a ZAR 1.72 billion surplus in February of 2014, after a large ZAR 17 billion gap in January, as exports surged 7.9 percent over the previous month and imports fell sharply by 13.2 percent.

Exports rose to ZAR 83.97 billion, boosted by sales of vehicles and transport equipment (+49.4 percent mom); machinery and electronics (+21.2 percent mom); base metals (+7.9 percent mom) and chemical products (+16.6 percent). In contrast, shipments of precious metals and stones fell 8.0 percent over the previous month.

Imports declined to ZAR 82.2 billion, mainly due to lower purchases of machinery and electronics (-27.0 percent); mineral products (-16.6 percent); chemical products (-13.7 percent); vegetable products (-50.0 percent) and plastics and rubber (-18.9 percent). Imports of vehicle and transport equipment rose 13.4 percent on a monthly basis.  

The trade surplus with Africa increased to ZAR 13 263 million. The trade gap with America, Asia, Europe and Oceania narrowed in February. 

South African Revenue Service | Joana Taborda | joana.taborda@tradingeconomics.com
3/31/2014 12:33:36 PM

RECENT RELEASES

South Africa Reports Trade Deficit in January
South Africa trade gap reached ZAR17.06 billion in January of 2014 as imports surged and exports remained virtually unchanged. Published on 2014-02-28

South Africa Reports Trade Surplus in December
In December of 2013, South African trade balance turned into a surplus for the second straight month and reached ZAR 2.78 billion, breaking a two-year cycle of persistent trade deficit. Since September of 2013, trade figures include trade with regional neighbors Botswana, Lesotho, Namibia and Swaziland. Published on 2014-01-31


Balance of Trade | Notes
The balance of trade is the difference between the monetary value of exports and imports in an economy over a certain period of time. A positive balance of trade is known as a trade surplus and occurs when value of exports is higher than that of imports; a negative balance of trade is known as a trade deficit or a trade gap.


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