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.
