MONDAY, 11.30AM
The customs and excise department on Friday reported a balance of trade surplus of R571-million in August, after a R453-million adjustment for oil imports. Excluding the oil adjustment would have taken the surplus to R1,02-billion.
Economists and analysts place the surplus in the bottom of the expected range, but added that the volatility of the indicator complicates forecasting and frequent revision of trade figures means trends are more valuable than monthly figures.
Exports have grown steadily this year, increasing 18,3% in the first eight months, aided by the depreciated rand and development of new markets, with good growth in manufactured exports taken as a positive sign. In addition, the 13,3% year-on-year growth in imports also appears to be slowing.