MONDAY, 11.00AM:
SOUTH Africa’s trade surplus for July fell to R850,2-million from June’s R3,18-billion after taking a beating from the inclusion of R965,7-million in oil imports not included in June’s figure.
The oil import figures were the result of R1-billion in oil imports that culd not be attributed to any particular month. Their inclusion in July’s figures brought imports for the month to R12,67-billion from June’s R10,52-billion. Exports fell slightly to R13,52-billion from June’s R13,7-billion. If the adjustments are excluded, then July saw a trade deficit of R115,5-million compared to June’s surplus of R4,15-billion.
The cumulative trade balance for the year to July was R8,55-billion, more than double the R3,63-billion of the previous year.