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15 September 2021 – The South African Revenue Service (SARS) today releases trade statistics for July 2021 recording a preliminary trade balance surplus of R36.96 billion. These statistics include trade data with Botswana, Eswatini, Lesotho and Namibia (BELN). The year-to-date (01 January to 31 July 2021) preliminary trade balance surplus of R289.99 billion is an improvement from the R94.88 billion trade balance surplus for the comparable period in 2020. Exports increased by 18.0% year-on-year whilst imports increased by 27.6% over the same period.
Including trade data with Botswana, Eswatini, Lesotho and Namibia (BELN)
The R36.96 billion preliminary trade balance surplus for July 2021 is attributable to exports of R145.01 billion and imports of R108.04 billion. Exports decreased by R18.33 billion (11.2%) between June and July 2021 and imports decreased by R0.81 billion (0.7%) over the same period.
Exports for the year-to-date (01 January to 31 July 2021) increased by 45.0% to R1 038.19 billion from R716.13 billion over the same period during 2020. Imports for the year-to-date of R748.20 billion were 20.4% more than the R621.24 billion imports recorded during the same period in 2020. The preliminary cumulative trade balance surplus for 2021 is R289.99 billion.
On a year-on-year basis, the R36.96 billion preliminary trade balance surplus for July 2021 was a deterioration from the R38.19 billion trade balance surplus recorded in July 2020. Exports of R145.01 billion were 18.0% more than the R122.87 billion exports recorded in July 2020. Imports of R108.04 billion were 27.6% more than the R84.68 billion imports recorded in July 2020.
June 2021 preliminary trade balance surplus was revised downwards by R3.20 billion due to the ongoing Vouchers of Correction (VOC). The revision was from the preliminary trade balance surplus of R57.68 billion to the revised trade balance surplus of R54.48 billion.
Excluding trade data with Botswana, Eswatini, Lesotho and Namibia (BELN)
The trade data excluding BELN for July 2021 recorded a preliminary trade balance surplus of R29.31 billion.
Summary
The R29.31 billion preliminary trade balance surplus for July 2021 was as a result of exports of R133.35 billion and imports of R104.03 billion. Exports decreased by R17.29 billion (11.5%) between June and July 2021 and imports decreased by R0.70 billion (0.7%) over the same period.
The preliminary cumulative trade balance surplus for 2021 was R232.49 billion compared to R48.11 billion trade balance surplus during 2020. Source (SARS)