Trade surplus dips in April

South Africa recorded a R1.14bn year-on-year trade balance surplus for April, lower than the R4.26bn recorded in April 2017, according to Statistics South Africa.

Export volumes declined 2.0% to R88.50bn compared to R90.33bn seen in April 2017, while imports were higher by 1.5% to R87.36bn.

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

Exports to African countries accounted for R24 171m, a dip of R2 003m from March 2018.

The trade balance surplus for African countries stood at R12 749m, dropping from  R4 098m. Asia, Europe, Oceania and America also saw a decline.

TreasuryONE said the R1.14bn trade balance surplus was lower than the expected R3bn, leaving the country with a “cumulative deficit of minus R17.6bn for January to April”.

South Africa’s trade statistic excluded trade data with BLNS countries until 2013.

On Thursday, Statistics South Africa disclosed that the domestic producer price index (PPI) shot up to 4.4% in April from 3.7% in March, as the impact of fuel price hikes and the increase in value-added tax hit consumers.

The annual PPI for mining was -2,6% in April 2018, compared with -3,1% in March. Quarrying, clay and diamond mining contributed to the decline.