Loading...
See More

R11bn trade deficit for May - Sars

Jun 28 2013 18:16 Sapa

(http://www.shutterstock.com)

Related Articles

Trade shortfall narrows to R7.77bn

Trade deficit narrows in February

January trade deficit at record

Sars: Tax evasion a risk

New tax collection powers for Sars

SA's trade deficit balloons

 

Cape Town - The SA Revenue Service (Sars) announced on Friday that the trade deficit in May was R11.03bn.

Adrian Lackaÿ, Sars spokesperson, said in a statement: "The R11.03bn deficit for May 2013 can be attributed to exports of R66.48bn and imports of R77.51bn."

Exports increased from April to May by R0.08bn (0.1%), while imports decreased in the same period by R4.8bn (5.8%).

The cumulative deficit for the year stood at R68.71bn, compared to R46.21bn in 2012.

A country has a trade deficit when it imports more goods than it exports.

Lackay said there were fewer imports of machinery, electrical appliances and mineral products.

Exports increased in vehicles, aircraft, vessels, vegetable products, machinery, electrical appliances, prepared foodstuffs, beverages, tobacco, chemical or allied industry products, and pulp of wood, waste and scrap paper.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

sars  |  cape town  |  sa economy  |  trade deficit
NEXT ON FIN24X

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
10 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...