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SA Records Trade Surplus Of R36.72 Billion

30 December 2020 – The South African Revenue Service (SARS) released trade statistics for November 2020 recording a trade surplus of R36.72 billion. These statistics include trade data with Botswana, Eswatini, Lesotho and Namibia (BELN).

The year-to-date (01 January to 30 November 2020) trade surplus of R238.33 billion is an improvement from the R9.18 billion surplus for the comparable period in 2019. Exports increased by 18.9% year-on-year whilst imports declined by 7.7% over the same period.

Including trade data with Botswana, Eswatini, Lesotho and Namibia (BELN)

The R36.72 billion trade surplus for November 2020 is attributable to exports of R138.66 billion and imports of R101.94 billion. Exports decreased by R9.19 billion (6.2%) between October and November 2020 and imports decreased by R10.96 billion (9.7%) over the same period.

Exports for the year-to-date (01 January to 30 November 2020) increased by 6.2% to R1 267.78 billion from R1 193.40 billion over the same period during 2019. Imports for the year-to-date of R1 029.45 billion were 13.1% less than the R1 184.22 billion imports recorded during the same period in 2019. The cumulative trade surplus for 2020 is R238.33 billion.

On a year-on-year basis, the R36.72 billion trade surplus for November 2020 was an improvement from the R6.24 billion surplus recorded in November 2019. Exports of R138.66 billion were 18.9% more than the R116.64 billion exports recorded in November 2019. Imports of R101.94 billion were 7.7% less than the R110.40 billion imports recorded in November 2019.

October 2020’s trade surplus was revised downwards by R1.19 billion due to the ongoing Vouchers of Correction (VOC). The revision was from the preliminary surplus of R36.13 billion to the revised surplus of R34.94 billion. Source (SA Revenue Service)