The South African Revenue Service’s (Sars) trade statistics for September recorded a preliminary trade balance surplus of R19.70bn.
These statistics included trade data with Botswana, Eswatini, Lesotho and Namibia (BELN), Sars said in a statement.
“The year-to-date (01 January to 30 September 2022) preliminary trade balance surplus of R175.42bn is a deterioration from the R346.88bn trade balance surplus for the comparable period in 2021. Exports increased by 22.0% year-on-year (y-o-y) whilst imports increased by 27.1% over the same period,” said the revenue collector.
Sars said the R19.70bn preliminary trade balance surplus for September was attributable to exports of R191.56bn and imports of R171.86bn.
“Exports increased by R17.37bn (10.0%) between August and September 2022, and imports increased by R3.88bn (2.3%) over the same period. Exports for the year to date (01 January to 30 September 2022) increased by 12.8% to R1 519.02bn from R1 346.54bn over the same period during 2021.
“Imports for the year to date of R1 343.60bn were 34.4% more than the R999.66bn imports recorded during the same period in 2021. The cumulative trade balance surplus for 2022 is R175.42bn. On a year-on-year basis, the R19.70bn preliminary trade balance surplus for September 2022 was a deterioration from the R21.82bn trade balance surplus recorded in September 2021.”
Exports of R191.56bn, said Sars, were 22.0% more than the R157.03bn exports recorded in September 2021. Imports of R171.86bn were 27.1% more than the R135.21bn billion recorded in September 2021.
The August preliminary trade balance surplus was revised downwards by R0.98bn due to the ongoing Vouchers of Correction (VOC). The revision was from the preliminary trade balance surplus of R7.18bn to the revised trade balance surplus of R6.20bn.
The trade data excluding BELN for September recorded a preliminary trade balance surplus of R8.62bn.
Sars said the R8.62bn preliminary trade balance surplus for September was a result of exports of R174.54bn and imports of R165.92bn.
“Exports increased by R16.76bn (10.6%) between August and September 2022 and imports increased by R3.02bn (1.9%) over the same period. The preliminary cumulative trade balance surplus for 2022 was R90.86bn compared to R271.72bn trade balance surplus during 2021,” reads the statement. – SAnews.gov.za
