Ed Richardson
AN IMPROVED economic performance by South Africa during 2000 was, to a large extent, export-led.
Preliminary figures suggest that the trade surplus amounted to not less than some R22 billion in 2000 as economic growth was picking up, compared to about R19 billion in 1999.
For December alone, the surplus was R9 billion, according to Central Statistical Services (CSS).
During the year merchandise exports increased by 26% in rand terms.
Measured in US dollar terms the increase was 11%.
This is more than double the consumer inflation rate of 5,3% for the year.
The export performance helped the country weather the shock of increased oil prices, which saw a 77% increase in the cost of imported chemical products.
South Africa's biggest export destination remained Europe, absorbing 41% of merchandise exports, followed by Asia (25%), Africa (18%) and America (14%).
Exports to the United States, grew the fastest at 39% while exports to Africa increased by 25%.
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