ED RICHARDSON NARROWING THE trade gap between exports and imports of vehicles and components is the priority for South African motor manufacturers, according to the 2005 annual report of the National Association of Automobile Manufacturers of South Africa (Naamsa). Total imports for the auto industry totalled R58-billion in 2004, and exports R39.2-billion, leaving a deficit of R18.8-billion, according to Naamsa figures. Exports were below those of the record figure of R40.7-billion in 2003. The previous deficit high was R14.1-billion in 1996. Catalytic converters were the biggest earner of foreign exchange in the component sector – with exports totalling R8.2-billion. This was 34% of the R21.7-billion worth of exports by component manufacturers. Naamsa says the deficit is due to a combination of the strong rand and growth in the South African economy.
