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2 August 2022 – The South African Revenue Service (SARS) has released trade statistics for June 2022 recording a preliminary trade balance surplus of R24.23 billion attributable to exports of R184.61 billion and imports of R160.38 billion. These statistics include trade data with Botswana, Eswatini, Lesotho and Namibia (BELN). The year-to-date (01 January to 30 June 2022) preliminary trade balance surplus of R133.52 billion is a deterioration from the R249.86 billion trade balance surplus for the comparable period in 2021. Exports increased by 16.7% year-on-year whilst imports increased by 47.6% over the same period.
Including trade data with Botswana, Eswatini, Lesotho and Namibia (BELN)
The R24.23 billion preliminary trade balance surplus for June 2022 is attributable to exports of R184.61 billion and imports of R160.38 billion. Exports increased by R2.84 billion (1.6%) between May and June 2022 and imports increased by R9.47 billion (6.3%) over the same period.
Exports for the year-to-date (01 January to 30 June 2022) increased by 10.1% to R979.37 billion from R889.69 billion over the same period during 2021. Imports for the year-to-date of R845.85 billion were 32.2% more than the R639.84 billion imports recorded during the same period in 2021. The cumulative trade balance surplus for 2022 is R133.52 billion.
On a year-on-year basis, the R24.23 billion preliminary trade balance surplus for June 2022 was a deterioration from the R49.54 billion trade balance surplus recorded in June 2021. Exports of R184.61 billion were 16.7% more than the R158.19 billion exports recorded in June 2021. Imports of R160.38 billion were 47.6% more than the R108.65 billion imports recorded in June 2021.
May 2022 preliminary trade balance surplus was revised upwards by R2.51 billion due to the ongoing Vouchers of Correction (VOC). The revision was from the preliminary trade balance surplus of R28.34 billion to the revised trade balance surplus of R30.85 billion.
Excluding trade data with Botswana, Eswatini, Lesotho and Namibia (BELN)
The trade data excluding BELN for June 2022 recorded a preliminary trade balance surplus of R14.36 billion. Summary The R14.36 billion preliminary trade balance surplus for June 2022 was as a result of exports of R169.40 billion and imports of R155.04 billion. Exports increased by R2.30 billion (1.4%) between May and June 2022 and imports increased by R7.92 billion (5.4%) over the same period. The preliminary cumulative trade balance surplus for 2022 was R76.40 billion compared to R200.53 billion trade balance surplus during 2021.
Botswana, Eswatini, Lesotho and Namibia (Only)
Trade statistics with the BELN countries for June 2022 recorded a preliminary trade balance surplus of R9.87 billion. Summary The R9.87 billion preliminary trade balance surplus for June 2022 was as a result of exports of R15.21 billion and imports of R5.34 billion. Exports increased by R0.54 billion (3.7%) between May and June 2022 and imports increased by R1.55 billion (40.9%) over the same period. The preliminary cumulative trade balance surplus for 2022 was R57.12 billion compared to R49.33 billion in 2021. Source (SARS.org.za)