Statistics released by the South African Revenue Service (SARS) show that for May, South Africa recorded a trade deficit of R6.57 billion.

The R6.57 billion deficit for May can be attributed to exports of R78.36 billion and imports of R84.93 billion.

Exports increased from April to May by R0.45 billion (0.6%) and imports decreased from April to May by R5.37 billion (5.9%). The cumulative deficit for 2014 is R47.13 billion compared to R34.56 billion in 2013.

Trade Highlights

The April to May change (up by 0.6%) in exports of goods mainly reflected decreases and increases in:

•     Precious Metals & Stones decreased by R2 109 million (16.5%)

•     Vehicles & Transports Equipment decreased by R1 232 million (16.4%)

•     Mineral Products increased by R1 095 million (5.5%)

•     Vegetable Products increased by R 618 million (18.2%)

•     Machinery & Electronics increased by R 573 million (7.2%)

•     Wood Pulp & Paper increased by R 436 million (34.8%)

The April to May change (down by 5.9%) in imports of goods mainly reflected decreases and an increase in:

•     Vehicles & Transport Equipment decreased by R2 170 million (22.4%)

•     Machinery & Electronics decreased by R1 789 million (8.9%)

•     Chemical Products decreased by R 922 million (10.3%)

•     Precious Metals & Stones increased by R 318 million (51.7%)