Trade Statistics

7 Apr 2000 - By Staff reporter

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SA Trade - January - November 1999
Imports Exports
1998 1999 %age change 1998 1999 %age change
Africa 3,337.5 4,168.9 25% 18,343.3 20,212.1 10%
Europe 63,321.9 62,649.6 -1% 41,946.9 47,288.3 13%
America 23,725.7 22,731.5 -4% 14,245.9 14,302.0 0%
Asia 38,949.2 42,062.6 8% 23,074.9 28,462.9 23%
Oceania 3,565.5 3,272.7 -8% 1,886.9 2,584.5 37%
Grand Total 133,293.6 135,015.1 1% 135,971.4 147,541.8 9%
It is a trend which is likely to continue as exchange controls have been tightened further.
During November 1999, new exchange restrictions - affecting foreign exchange bureaux, corporate foreign currency accounts and banks' utilisation of export inflows - were imposed.
Banks are now required to sell 50% of their export inflows to the Reserve Bank, said Whitehouse, apparently to pay debt-service costs, and meet the foreign currency requirements of parastatals.
This might nip the improved start to SA-to-Zimbabwe export trade for 1999 in the bud.
SA imports from Zimbabwe, meantime, increased by a small 1% in January-July 1999 over the same 1998 period - reaching a R621.9-million total.
Again, the product profile of imports has remained consistent - with key categories being: prepared foods, beverages and tobacco; mineral products; textiles; and base metals and article thereof.
Despite a poor trade performance with our largest trading partner in Africa, Whitehouse finds an optimistic note in the latest trade figures.
Total African trade, she said, does not appear to have been affected.
This implying that SA exporters are finding alternative markets on the continent.
The January to November preliminary trade statistics reflect a 10% increase in exports to Africa and a 25% increase in imports from the continent.
Said Whitehouse: These figures reflect a welcome return to a double-digit increase in our trade with Africa. This after the poor performance during 1998 - which saw a 3% increase in exports to Africa and zero percent increase in total trade.
The trade-by-country statistics have yet to be released. However, based on the January to July figures, Whitehouse expects most of the growth to come from fellow Southern African Development Community (SADC) member countries.
During the seven month period, exports to SADC reflected a 13% increase - with notable growth recorded in exports to Malawi, Zambia and Mozambique.
Whitehouse also points to another heartening set of figures in her statistical data-base. Of note in the January to November statistics, she told FTW, is the recovery in trade with Asia.
Exports have reached and exceeded the 1997 level - after a 12% decrease during 1998 brought on by the Asian crisis.