WEDNESDAY, 11.00AM
SOUTH Africa’s trade surplus last month hit a record R4,1-billion from May’s R1,8-billion as exports experienced strong growth while import demand slowed, according to the customs and excise department.
Between the first and second quarters, exports increased by 20%, while imports were up only 6% over the same period. Total exports in June amounted to R13,7-billion. Imports fell to R9,6-billion, though this figure will be amnended next month to include a consignment of crude oil not cleared by customs in time for inclusion in June’s import figures. This administrative error is likely to add about R1-billion to June’s imports.