Trade balance looks healthy
TRADE FIGURES staged a strong recovery in May over the April slump - and the trade balance looks healthy, according to Standard Bank's June 30 trade flash.
Exports surged by 23% (R3.324-billion) to a R17.939-bn total for the month while imports jumped by 32% (R3.834-bn) to R15.926-bn. This means a trade surplus of R2.013-bn.
The main export drivers were: mineral products (+R814-million); vehicles (+R431-bn); precious and semi-precious stones and metals (+R410-bn); machinery (+R202-m) and base metals (+R200-m).
For imports the performers were: machinery and electrical equipment (+R1.050-bn); mineral products (+R886-m), chemicals (+R484-m), base metals (+R278-m) and vehicles (+R204-m).
May's trade report continues the sterling performance of recent quarters, said Standard economist Goolam Ballim, and will impact positively on the balance of payments and consequently interest rates and the rand.
The cumulative trade balance for 2000 stands at a handsome R9.909-bn - 26% higher than for the same period last year.
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