July 2019

Export and Import Unit Value Indices, May 2019 31 July 2019 – Exports: The UVI for exported commodities shows an annual rate of change of 4,8% in May 2019. From April 2019 to May 2019 the UVI for exported commodities increased by 0,3%. The main contributors to the annual rate of 4,8% were metal products, […]

South Africa’s 2019 Maize Output Expected to Shrink by 13% 30 July 2019 – south Africa’s 2019 maize harvest forecast is expected to be reduced from previous estimates after harvests in the North West province pointed to lower yields, a Reuters poll showed. The government’s Crop Estimates Committee (CEC), provided its sixth production forecast for

Fitch Affirms South Africa Credit Rating but Downgrades Outlook from Stable to Negative The myriad problems facing SA’s economy compounded after Fitch Ratings revised the outlook on the country’s sovereign debt downwards. 29 July 2019 – The myriad problems facing South Africa’s economy compounded on Friday after Fitch Ratings revised the outlook on the country’s

SA’s Net Foreign Reserves Rise to $43.940bn in June 26 July 2019 – South Africa‘s net foreign reserves rose to $43.940 billion in June from $43.178 billion in May, the Reserve Bank said on Friday. Gross reserves also surged to $49.804 billion at the end of June from $48.329 billion in the prior month, central bank

Inflation Unchanged at 4.5% in June Higher Readings Expected Towards 2020Q1 25 July 2019 – Statistics South Africa (Stats SA) reported on July 24 that consumer price inflation was stable at 4.5% year-on-year (y-o-y) in June. This was in line with economists’ expectations and spot on the middle of the South African Reserve Bank (SARB) target

Global Growth to Remain Subdued 24 July 2019 – While global economic growth is expected to remain subdued, at 3.2%, this year, the International Monetary Fund’s (IMF’s) latest edition of the ‘World Economic Outlook (WEO)’ points to anticipated growth of 3.4% for sub-Saharan Africa. With global growth expected to pick up to 3.5% in 2020,

Dramatic Spike in Trade-Restrictive Measures Continues 23 July 2019 – Trade flows hit by new restrictions implemented by World Trade Organisation (WTO) members continued at an historically high level between mid-October 2018 and mid-May 2019, according to the director-general’s latest mid-year report on trade-related developments published today. The report notes that the trade coverage of

Mixed Reaction From Agri Sector to Repo Rate Reduction 22 July 2019 – The decision by the South African Reserve Bank Monetary Policy Committee to lower the repo rate to 6,5%, down from 6,75%, will affect different role players in the agriculture value chain in different ways. This was according to Francois Strydom, chairperson of

South Africa Cuts Key Interest Rate First Time in Over a Year 19 July 2019 – South Africa’s central bank cut its benchmark interest rate for the first time in more than a year as it almost halved its economic growth forecast for the year. The Monetary Policy Committee unanimously decided to lower the repurchase

SA Reaffirms Commitment to IMO 18 July 2019 – South Africa yesterday reaffirmed its commitment to upholding the standards and values of the International Maritime Organisation (IMO) at the IMO Council’s 122nd session in London. Transport minister Fikile Mbalula said South Africa would continue to advance the objectives and the imperatives of the IMO by ensuring