Pretoria, 29 February 2012 – The South African Revenue Service (SARS) today releases trade statistics for January 2012 that record a trade deficit of R13.5 billion.
The trade deficit for January 2012 is R13.5 billion (Deficit of 4.9 billion in January 2011) compared to a surplus of R4.7 billion in December 2011, a month-on-month decline of R18.2 billion. Exports decreased by R8.98 billion (-14.3%) to R54.0 billion and imports increased by R9.23 billion (15.8%) to R67.5 billion.
The trade deficit of R13.5 billion in January 2012 was mainly due to decreased exports of precious and semi-precious stones and metals; vehicles, aircraft and vessels and machinery and electrical appliances and increased imports of machinery and electrical appliances; original equipment components and products of the chemicals or allied industries.
The cumulative deficit for 2012 is R13.5 billion compared to a cumulative deficit of R4.9 billion in 2011.
Trade Highlights by Category
- The December to January change (down by -14.3%) in exports of goods reflected changes mainly in:
- Base metals and articles thereof increased by R 253 million (4%);
- Mineral products increased by R 227 million (1%);
- Prepared foodstuffs, beverages and tobacco decreased by R 483 million (-29%);
- Machinery and electrical appliances decreased by R1 146 million (-23%);
- Vehicles, aircraft and vehicles decreased by R2 208 million (-43%); and
- Precious and semi-precious stones and metals decreased by R4 835 million (-28%).
- The December to January change (up by 15.8 %) in imports of goods reflected changes mainly in:
- Machinery and electrical appliances increased by R2 838 million (20%);
- Original equipment components increased by R1 304 million (56%);
- Products of the chemical or allied industries increased by R 970 million (19%);
- Textile and textile articles increased by R 709 million (45%);
- Plastics and rubber and articles thereof increased by R 672 million (30%);
- Base metals and articles thereof increased by R 672 million (24%);
- Precious and semi-precious stones and metals increased by R 479 million (194%);
- Mineral products increased by R 321 million (2%); and
- Vehicles, aircraft and vessels decreased by R 47 million (-1%).
Trade Highlights by World Zone
The world zone results for December 2011 and January 2012 as given below are unaudited.
- Asia: The deficit increased from R 4.3bn in December to R 13.0bn in January 2012. Exports decreased by R 2.4bn to R 19.9bn and imports increased by R 6.3bn to R 32.9bn.
- Europe: The deficit increased from R 2.7bn in December to R 6.3bn in January 2012. Exports decreased by R 0.4bn to R 14.8bn and imports increased by R 3.1bn to R 21.1bn.
- America: The deficit increased from R 1.1bn in December to R 2.6bn in January 2012. Exports decreased by R 1.0bn to R 5.9bn and imports increased by R 0.5bn to R 8.5bn.
- Africa: The surplus decreased from R 4.9bn in December to R 3.7bn in January 2012. Exports decreased by R 2.2bn to R 7.4bn and imports decreased by R 1.0bn to R 3.7bn.
- Oceania: The deficit increased from R 0.3bn in December to R 0.7bn in January 2012. Exports decreased by R 0.01bn to R 0.5bn and imports increased by R 0.3bn to R 1.2bn.
1.1 SA Trade Release Table