SA records R3.52bn trade surplus for May – revenue service

CAPE TOWN – South Africa recorded a trade surplus of R3.52 billion for May, according to trade statistics released by the SA Revenue Service (Sars) on Friday.

A statement from Sars said the trade surplus was due to exports of R102.61 billion and imports of R99.09 billion.

“Exports increased from April 2018 to May 2018 by R14.15 billion (16 percent) and imports increased from April 2018 to May,” the statement said.

A year-on-year comparison showed the trade surplus was down in May compared to the R7.89 billion surplus recorded for the same month last year.

From January to May, however, a trade deficit of R14.18 billion was recorded, down from R16.41 billion surplus for the same period last year. 

The main drivers behind the May surplus were due to a month-on-month export increases for vehicles and transport equipment (R2.67 bln or 29 percent), vegetable roducts (R2.39 bln or 56 percent), mineral products (R2.34 bln or 11 percent), chemical products (R1.5 bln or 28 percent), prepared foodstuff (R1.12 bln or 32 percent), machinery and electronics (R1.05 bln or 14 percent), and base metals (R 896 mln or eight percent).

– African News Agency (ANA)