The commerce statistics launched by the SA Income Service for October indicated a surplus commerce steadiness for the cumulative yr to-date (YTD) interval January to October 2023 of R28.5 billion.
This represents a large drop from the R180.8 billion commerce steadiness surplus recorded for the comparable interval in 2022. The YTD exports have been R1.692 trillion (YTD 2022: R1.678 trillion), and the YTD imports R1.163 trillion (YTD 2022: R1.499 trillion).
South Africa’s YTD balances with its largest commerce companions included a constructive commerce steadiness of R307.1 billion with Africa (exports: R454.7 billion, imports: R147.6 billion); a deficit commerce steadiness of R33.5 billion with the US (exports: R158.4 billion, imports: R191.9 billion); a deficit commerce steadiness with Asia of R322.3 billion (exports: R533 billion, imports: R855.3 billion); and a deficit commerce steadiness with Europe of R20.4 billion (exports: R422.5 billion, imports R442.9 billion).
The important thing YTD exports included mineral merchandise of R354.2 billion, treasured stones of R250 billion, transport gear of R153.1 billion, base metals of R152.4 billion, and equipment and home equipment of R100.3 billion.
ALSO READ: Sars recovers R6.7 billion from syndicated tax investigations
The important thing YTD imports included equipment and home equipment of R322.7 billion, mineral merchandise of R263.1 billion, chemical merchandise of R126.4 billion, transport gear of R120.6 billion and imports for the automotive manufacturing and improvement programme of R110.6 billion.
The preliminary commerce steadiness for October moved into the pink at R12.7 billion, down from the revised September surplus of R13.1 billion. The October exports have been R174.4 billion (September 2023: R174.7) and imports R183 billion (September 2023: R161.5).
The important thing export classes in October have been mineral merchandise (R42.8 billion); treasured metals and stones (R30 billion); base metals (R16.5 billion); vegetable merchandise (R9.7 billion); and chemical merchandise (R10.5 billion).
The important thing import classes in October have been mineral merchandise (R48.7 billion); equipment and electronics (R38.9 billion); unique gear elements (R14.9 billion); autos and transport gear (R14.4 billion); wooden pulp and paper (R4.7 billion).
The highest 5 international locations SA exported to in October have been China (9.2%), US (7.1%), Germany (6.7%), Mozambique (6.6%) and India (5.8%).
ALSO READ: Specialists say GEPF’s transformation coverage ‘a political very best, not pension associated’