…but consecutive deficit registered ALAN PEAT THE PRESSURES on the balance of trade eased slightly in August, although the trade account (the difference between exports and imports) still recorded its eighth consecutive deficit. But the runaway in imports slowed a bit, and the trade gap narrowed from the record R7.7-billion in July to R5.28-bn. Exporters had some smiles on their faces in August, with exports easing up by 3.1% month-on-month (m/m) – from R34.8-bn in July to R35.93-bn in August. At the same time, imports took a slight tumble, declining by 3.24% m/m in August to R41.215-bn, but remained close to the record high of R42.596-bn in July. On the bonus side as far as exports were concerned, “base metals and articles thereof” increased by R0.741-bn; with “machinery, mechanical appliances and electrical equipment” increasing by R0.631-bn. On the export downside were “precious and semi-precious stones and metals”, falling by R0.743-bn. On the import side, three product categories exerted the most upward pressure, being: “Base metals and articles thereof” (which rose by R0.394-bn); “original equipment” (up by R0.311-bn); and “machinery, mechanical appliances and electrical equipment” (+R0.752bn). But imports which eased off in August included: “Mineral products”, which dropped a massive R3.415-bn; and “vehicles, aircraft and vessels” which decreased by R0.363-bn. The rand currency exchange rate was slightly better (depending on how you look at it) in August, being marginally stronger against most of our major trading partners’ currencies, according to Shireen Darmalingam, Standard Bank economist. She calculated that the rand was 14c (on average) stronger against the US dollar and 9c against the euro, but it slipped by about 7c against the GB pound.
