Exports grew by 17,52% last month from October while imports dropped by nearly four percent — leading to a narrowing of the country’s trade deficit, the SA Revenue Service (Sars) said on Thursday.
In unaudited trade statistics released on its website, the SARS said exports amounted to R27,9-billion last month and imports to R28,4-billion — resulting in a trade balance of minus R479,6-million.
In October, imports exceeded exports by about R5,8-billion.
Aircraft to the value of R18-million were included in November’s import statistics, the preliminary report states.
It said imports of mineral products dropped by R333-million and of vehicles, aircraft and vessels by R1,3-billion. Imports of machinery and mechanical appliances rose by R717-million.
Exports of mineral products dropped by R310-million. But exports of precious and semi-precious stones and metals, base metals and articles thereof, machinery and mechanical appliances, vehicles, aircraft and vessels, and pulp of wood, paper and paperboard, all increased.
The SARS said the unaudited trade balance figure for January to November pointed to a deficit of R14,6-billion. Exports for the 11 months amounted to R264-billion and imports to R278,9-billion.
Over the same period last year, exports exceeded imports by R10,8-billion.
Exports between the two 11-month periods grew by R13-billion or 5,2%, and imports by R38,5-billion or 16,06%, the report states. – Sapa