On 30 June 2011 Sars released South Africa’s May 2011 trade statistics recording a trade deficit of R1.0 billion or R1 000 million. The press release reads as follows: The trade deficit for May 2011 is R1.0 billion (Deficit of R0.04 billion in May 2010) compared to a deficit of R2.4 billion in April 2011, a month to month decrease of R1.4 billion. The deficit was due to an increase in exports of R4.6b (9.0%) to R56.3b and an increase in imports of R32.b (6.0%) to R57.3b. The reduction in the trade deficit from R2.4b in April 2011 to R1.0 billion in May 2011 was underpinned by higher commodity exports, specifically precious and base metals. The cumulative deficit for the year to date is R8.5 billion compared to R13.5 billion in 2010, an improvement of R5.0 billion or 36.9%. Trade Highlights by Category • The April to May change (up by 9.0%) in exports of goods reflected the following: o Precious and semi-precious stones and metals increased by R1 822 million (14%); o Base metals and articles thereof increased by R1 162 million (15%); o Vegetable products increased by R 660 million (40%); o Vehicles, aircraft and vessels increased by R 532 million (13%); o Machinery and electrical appliances increased by R 102 million (2%) and o A decrease in mineral products by R 349 million (-3%). • The April to May change (up by 6.0%) in imports of goods reflected the following: o Machinery and electrical appliances increased by R 867 million (7%); o Original equipment components increased by R 811 million (28%); o Base metals and articles thereof increased by R 762 million (35%); o Plastics and rubber and articles thereof increased by R 449 million (23%); o Vehicles, aircraft and vessels increased by R 221 million (4%) and o A decrease in mineral products by R1 764 million (-12%). Trade Highlights by World Zone The world zone results for April and May 2011 as given below are unaudited. • Asia: The deficit decreased from R 5.9bn in April to R 5.0bn in May 2011. Exports increased by R1.4bn to R 19.6bn and imports increased by R 0.5bn to R 24.6bn. • Europe: The deficit decreased from R 3.2bn in April to R 3.0bn in May 2011. Exports increased by R1.6bn to R 15.8bn and imports increased by R 1.4bn to R 18.8bn. • America: The deficit increased from R 1.1bn in April to R 1.3bn in May 2011. Exports increased by R 0.7bn to R 6.8bn and imports increased by R 0.9bn to R 8.1bn. • Africa: The surplus decreased from R 3.4bn in April to R 3.1bn in May 2011. Exports decreased by R0.01bn to R 7.8bn and imports increased by R 0.2bn to R 4.7bn. • Oceania The deficit increased from R 0.1bn in April to R 0.4bn in May 2011. Exports decreased by R0.1bn to R 0.5bn and imports increased by R 0.2bn to R 0.9bn
