Significant Adjustment
to the Trade Statistics
Expected
When last did you pay careful
attention to the South African
import and export statistics, and
specifically those relating to your
products?
Last Friday, 30 January 2009,
the South African Revenue
Service (Sars) released the trade
statistics for December 2009.
According to their figures the
South African trade deficit
(exports less imports) for 2008
stood at R88bn in comparison
with a trade deficit of R69.9bn
for 2007.
But is this the correct figure?
Research conducted by Tariff
& Trade Intelligence CC and
IHS Global Insight assets that
it is not. In fact, according to
our research, the trade deficit
is overstated by at least R18bn.
This means that the trade deficit,
when the overstated figure is
accounted for, will be in the
region of R70bn, which is line
with the deficit of last year. The
obvious questions must surely be
when and how corrections to the
trade statistics will be made.
If you are interested in a more
detailed analysis or in obtaining
trade statistics for the products
that you import, export or
manufacture domestically, go to
www.tradeinsight or send us an
email and we will send you more
details.
Enhancing Competitiveness
– Southern Africa
The Southern Africa Global
Competitiveness Hub, with the
support of the United States of
America Agency for International
Development (USAID), will
from 09 to 10 February 2009 be
hosting a regional forum titled
“Enhancing Competitiveness in
Southern Africa: A Roadmap for
Success”. It will be held at the
Balalaika Hotel in Johannesburg.
Trade Remedy Application –
Comment Due
A notice appeared in respect of
the “Initiation of an Investigation
into the Alleged Dumping
of Staple Polyester Fibre
Originating in or Imported from
the People’s Republic of China”.
The application was lodged
by Hosaf, the only producer
of staple polyester fibre in the
Southern African Customs Union
(Sacu). If you are affected by the
investigation, or have an interest
in it, you should arrange with the
investigation officials to view the
Public File.
Comment if due by
01 March 2009.
Budget Speech on
11 February 2009
Next week Wednesday,
11 February 2009, is the day on
which the Minister of Finance
Trevor Manuel will present the
Budget Speech to Parliament.
Don’t forget to look out for the
Customs Buzz Budget Edition of
12 February 2009.
Email antonm@nowmedia.
co.za to register.
DUTY CALLS
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