TRADE DEFICIT INCREASES IN APRIL 2007 TO R5.7 BILLION LARGELY DUE TO A MONTH-ON-MONTH DECREASE IN EXPORTS OF SEMI-PRECIOUS AND PRECIOUS STONES AND METALS, MACHINERY AND MECHANICAL APPLIANCES.
The South African Revenue Service announced today that April exports of R38 billion and imports of R43.7 billion resulted in a deficit of R5.7 billion. The deficit increased from R2.7 billion to R5.7 billion due to a higher decrease in the value of exports than imports from March to April. Highlights include month-on-month decrease in exports of semi-precious and precious stones and metals, machinery and mechanical appliances and a decrease in imports of base metals and machinery and electrical equipment. Imports decreased by R1.5 billion (3%) to R43.7 billion whilst exports decreased by R4.5 billion (11%) to R38 billion.
Trade by Category
Trade by World Zone
Trade for the year
The cumulative trade deficit for 2007 was R20.8 billion versus a deficit of R17 billion in 2006. The trade deficit for the month April 2007 was R5.7 billion versus a deficit of R2.4 billion in April 2006.
Compared to the same period in 2006, the growth in exports has outpaced the growth in imports (as measured in percentages). Cumulative imports have increased by R50 billion (41%) and exports increased by R46 billion (44%).
The increase in imports is mainly from Europe by R18.6 billion (40%), Asia by R15.4 billion (31%) and Africa by R6.5 billion (93%). Export trade increased mainly to Asia by R18.2 billion (69%), Europe by R15.5 billion (42%) and America by R5.7 billion (41%).
The year-on-year growth in imports was driven mainly by machinery, mechanical and electrical appliances (up by R12.9 billion (40%)), mineral products (up by R11 billion (53%)), vehicles (up by R5.2 billion (34 %)) and base metals (up by R4.7 billion (93%)).
The year-to-date trade in exports in April 2007 versus the same period in 2006 increased mainly due to mineral products (growth of R10.4 billion (68%)), base metals (growth of R10.4 billion (58%), precious or semi-precious stones and metals (growth of R9 billion (32%) and machinery, mechanical and electrical appliances (growth of R6 billion (61%)).
ISSUED BY THE COMMISSIONER FOR THE SOUTH AFRICAN REVENUE SERVICE