Alan Peat
THE TRADE year has kicked off to a good start - with exports for January logged at R19.2-billion; imports at R16.7-bn; and a resulting healthy trade surplus of R3.5-bn (almost double that of last January).
It should be noted that the SARS figure of R20.3-bn for exports included a
R1.1-bn carry-over from last year (mainly in precious stones).
The big players in exports were mineral products (R3.4-bn); base metals
(2.8-bn); and chemical products (1.2-bn).
While car exports were down by R1.1-bn (20% lower than the latest six-month average), this is considered a temporary slow-down. Expected exports of 90 000 vehicle units this year is a figure that's 55% up on last year's total.
The R16.8-bn in imports for January matches the previous six-month average - with the oil price continuing to bolster the monthly total.
But, since then, the oil price has come off by almost 25% and is expected to ease off its pressure on the import bill over the next six months.
Among manufactured products, machinery and electrical goods was still the lead player. A result, say trade analysts, of major imports of capital equipment for developments in the telecommunications industry.
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