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South Africa Has A Trade Surplus Of R33.51 Billion

2, November 2020 – The South African Revenue Service (SARS) trade statistics for September 2020 recording a trade surplus of R33.51 billion. These statistics include trade data with Botswana, Eswatini, Lesotho and Namibia (BELN). The year-to-date (01 January to 30 September 2020) trade surplus of R167.45 billion is an improvement from the R0.48 billion surplus for the comparable period in 2019.

Exports increased by 23.2% year-on-year whilst imports declined by 3.2% over the same period. Including trade data with Botswana, Eswatini, Lesotho and Namibia (BELN) The R33.51 billion trade surplus for September 2020 is attributable to exports of R135.75 billion and imports of R102.24 billion. Exports increased by R5.83 billion (4.5%) between August and September 2020 and imports increased by R11.02 billion (12.1%) over the same period.

Exports for the year-to-date (01 January to 30 September 2020) increased by 2.9% to R982.42 billion from R954.33 billion over the same period during 2019. Imports for the year-to-date of R814.97 billion were 14.6% less than the R953.85 billion imports recorded during the same period in 2019. The cumulative trade surplus for 2020 is R167.45 billion. On a year-on-year basis, the R33.51 billion trade surplus for September 2020 was an improvement from the R4.55 billion surplus recorded in September 2019.

Exports of R135.76 billion were 23.2% more than the R110.16 billion exports recorded in September 2019. Imports of R102.24 billion were 3.2% less than the R105.61 billion imports recorded in September 2019. August 2020’s trade surplus was revised downwards by R0.17 billion due to the ongoing Vouchers of Correction (VOC).The revision was from the preliminary surplus of R38.87 billion to the revised surplus of R38.70 billion.

Excluding trade data with Botswana, Eswatini, Lesotho and Namibia (BELN) The trade data excluding BELN for September 2020 recorded a trade surplus of R26.33 billion.

Summary

The R26.33 billion surplus for September 2020 was as a result of exports of R123.77 billion and imports of R97.44 billion. Exports increased by R5.79 billion (4.9%) between August and September 2020 and imports increased by R10.00 billion (11.4%) over the same period. The cumulative surplus for 2020 was R105.25 billion compared to R71.89 billion deficit during 2019. Source (SARS)