South Africa’s Trade Balance Returns to a Surplus in March

(Bloomberg) — South Africa’s trade balance returned to a surplus in March as exports of metals and vegetables climbed, while imports of minerals products declined.

The 9.5 billion-rand ($764 million) surplus compares with February’s revised deficit of 600 million-rand and a record 27 billion rand shortfall in January, the Pretoria-based South African Revenue Service said in an emailed statement Monday. The median estimate of five economists surveyed by Bloomberg was for a 3.8 billion-rand surplus. The positive balance was 11.5 billion rand a year earlier.

Here are some highlights from the statement:

• Imports fell 2 percent to 88.8 billion rand from a month earlier as mineral products, which includes oil, dropped 14 percent
• Exports increased by 9.2 percent to 98.3 billion rand, with shipments of mineral products, precious metals and vegetable products rising
• The trade deficit for the year so far is 18.6 billion rand, compared with a surplus of 4.2 billion rand a year earlier

Disclaimer:
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.