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SA records unexpected trade surplus

Johannesburg - South Africa recorded an unexpected trade surplus of R1.72bn in February after a large R17bn shortfall in January, data from the South African Revenue Service (Sars) showed on Monday.

Exports in February climbed 7.9% to R83.93bn, while imports fell 13.2% to R82.21bn, it added.

Economists polled by Reuters had forecast a trade shortfall of R3bn for February.

The figures included trade with Botswana, Lesotho, Namibia, and Swaziland (BLNS).

The cumulative deficit for 2014 was R15.21bn compared to R20.25bn in 2013.

The January to February change in exports of goods reflected several increases and one decrease.

Vehicles and transport equipment increased by R2 883m (49.4%), and machinery and electronics went up by R1 346m (21.2%).

Base metals increased by R840m (7.9%), and chemical products by R725m (16.6%).

Precious metals and stones decreased by R1 149m (8%).

The January to February change in imports of goods reflected several decreases and one increase.

Machinery and electronics decreased by R6 471m (27.0%), and mineral products decreased by R3 851m (16.6%).

Chemical products decreased by R1 164m (13.7%), and vegetable products decreased by R1 058m (50%).

Plastics and rubber decreased by R698m (18.9%). Vehicle and transport equipment increased by R1029m (13.4%).

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