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Trade deficit narrows to R5.7bn

Jul 31 2012 14:49 Reuters

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Johannesburg - SA recorded another trade deficit in June for its trade with non-Southern African Customs Union (non-SACU) trading partners.

A R5.7bn deficit was recorded in June‚ after an R8.9bn deficit in May‚ Sars customs and excise figures released on Tuesday showed.

The deficits have however been smaller in recent months compared to April’s almost R10bn deficit.

Customs and excise attributed June’s decline mainly to a decrease in exports of mineral products and decreased imports of mineral products‚ machinery and electrical appliances‚ products of the chemicals or allied industries‚ base metals and articles thereof and original equipment components.

There was a R1.1bn (1.7%) decrease in exports to R61.7bn and a decrease in imports of R4.3bn (6.0%) to R67.4bn.

The cumulative deficit for the year to date is R51.1bn compared with a cumulative deficit of just R2.5bn in 2011.

A breakdown of the figures showed that the exports of vehicles‚ aircraft and vessels rose by R814m‚ or 15%; vegetable products increased by R699m‚ or 27%; precious and semi-precious stones and metals increased by R486m‚ or 3%; base metals and articles thereof increased by R118m‚ or 2%.

Mineral product exports decreased by R2.3bn or 13%.

In imports‚ mineral products decreased by R2.1bn or 11%; machinery and electrical appliances decreased by R1.2bn or 7%; products of the chemicals or allied industries fell R657m or 11%.

Base metals and articles thereof decreased by R498m‚ or 14%; original equipment components decreased by R461m or 10%.

Vehicles‚ aircraft and vessels increased by R525m‚ or 7%.

 
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