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R11bn trade deficit for May - Sars

Jun 28 2013 18:16 Sapa

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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.

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sars  |  cape town  |  sa economy  |  trade deficit

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