SA’s Trade Surplus Narrows To R19.78 Billion In October

1 December 2021 – The South African Revenue Service (SARS) has released trade statistics for October 2021 recording a preliminary trade balance surplus of R19.78 billion. These statistics include trade data with Botswana, Eswatini, Lesotho and Namibia (BELN). The year-to-date (01 January to 31 October 2021) preliminary trade balance surplus of R369.77 billion is an improvement from the R202.82 billion trade balance surplus for the comparable period in 2020. Exports decreased by 0.1% year-on-year whilst imports increased by 13.5% over the same period.

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

The R19.78 billion preliminary trade balance surplus for October 2021 is attributable to exports of R147.92 billion and imports of R128.14 billion. Exports decreased by R9.01 billion (5.7%) between September and October 2021 and imports decreased by R6.64 billion (4.9%) over the same period.

Exports for the year-to-date (01 January to 31 October 2021) increased by 32.4% to R1 496.45 billion from R1 130.22 billion over the same period during 2020. Imports for the year-to-date of R1 126.68 billion were 21.5% more than the R927.40 billion imports recorded during the same period in 2020. The preliminary cumulative trade balance surplus for 2021 is R369.77 billion.

On a year-on-year basis, the R19.78 billion preliminary trade balance surplus for October 2021 was a deterioration from the R35.21 billion trade balance surplus recorded in October 2020. Exports of R147.92 billion were 0.1% less than the R148.11 billion exports recorded in October 2020. Imports of R128.14 billion were 13.5% more than the R112.90 billion imports recorded in October 2020.

September 2021 preliminary trade balance surplus was revised downwards by R0.09 billion due to the ongoing Vouchers of Correction (VOC). The revision was from the preliminary trade balance surplus of R22.23 billion to the revised trade balance surplus of R22.14 billion.

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

The trade data excluding BELN for October 2021 recorded a preliminary trade balance surplus of R9.58 billion.

Summary

The R9.58 billion preliminary trade balance surplus for October 2021 was as a result of exports of R133.20 billion and imports of R123.62 billion. Exports decreased by R9.94 billion (6.9%) between September and October 2021 and imports decreased by R6.21 billion (4.8%) over the same period. The preliminary cumulative trade balance surplus for 2021 was R283.94 billion compared to R131.71 billion trade balance surplus during 2020. Source (SARS)