The South African Revenue Service said the country recorded a trade balance deficit of R1.09-billion in November.
The year-to-date deficit (01 January to 30 November 2016) of R14.61-billion is an improvement on the deficit for the comparable period in 2015 of R59.28-billion.
The R1.09-billion trade balance deficit for November 2016 is attributable to exports of R99.64-billion and imports of R100.73-billion. Exports for the year-to-date (01 January to 30 November 2016) grew by 5.8 percent from R948.37-billion in 2015 to R1 003.51-billion in 2016.
Imports for the year-to-date of R1 018.13-billion are 1.0 percent more than the imports recorded
in January to November 2015 of R1 007.66-billion.
On a year-on-year basis, November 2016’s R1.09-billion trade balance deficit is a deterioration from the surplus recorded in November 2015 of R0.24-billion. Exports of R99.64-billion are 7.0 percent more than the exports recorded in November 2015 of R93.14-billion.
Imports of R100.73-billion are 8.4 percent more than the imports recorded in November 2015 of R92.89-billion.
October 2016’s trade balance deficit was revised downwards by R0.50-billion from the previous month’s preliminary deficit of R4.41-billion to a revised deficit of R3.91-billion as a result of ongoing Vouchers of Correction (VOC’s).
Exports increased from October 2016 to November 2016 by R11.31-billion (12.8 percent) and imports increased from October 2016 to November 2016 by R8.49-billion (9.2 percent).