SARS releases trade statistics for March 2017

Posted in News by Admin on 1 May, 2017 at 12:21 p.m.

Pretoria, 28 April 2017 – The South African Revenue Service (SARS) releases trade statistics for March 2017 recording a trade balance surplus of R11.44 billion. These statistics include trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS). The year-to-date trade balance surplus (01 January to 31 March 2017) of R4.98 billion is an improvement on the deficit for the comparable period in 2016 of R24.27 billion. 

Including trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS)
The R11.44 billion trade balance surplus for March 2017 is attributable to exports of R101.23 billion and imports of R89.79 billion. Exports increased from February 2017 to March 2017 by R13.96 billion (16.0%) and imports increased from February 2017 to March 2017 by R7.32 billion (8.9%). 

Exports for the year-to-date (01 January to 31 March 2017) grew by 8.0% from R248.72 billion in 2016 to R268.68 billion in 2017. Imports for the year-to-date of R263.71 billion are 3.4% less than the imports recorded in January to March 2016 of R273 billion.

On a year-on-year basis, the R11.44 billion trade balance surplus for March 2017 is an improvement from the deficit recorded in March 2016 of R0.66 billion. Exports of R101.23 billion are 10.4% more than the exports recorded in March 2016 of R91.73 billion. Imports of R89.79 billion are 2.8% less than the imports recorded in March 2016 of R92.39 billion.

February 2017’s trade balance surplus was revised downwards by R0.43 billion from the previous month’s preliminary surplus of R5.22 billion to a revised surplus of R4.79 billion as a result of ongoing Vouchers of Correction (VOC’s). 

Click HERE for Merchandise Trade Statistics March 2017.

Excluding trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS)
The trade data excluding BLNS for March 2017 recorded a trade balance surplus of R3.47 billion.
 

Summary
The R3.47 billion surplus for March 2017 is as a result of exports of R90 billion and imports of R86.53 billion. Exports increased from February 2017 to March 2017 by R12.03 billion (15.4%) and imports increased from February 2017 to March 2017 by R6.91 billion (8.7%). The cumulative deficit for 2017 is R15.87 billion compared to R48.65 billion deficit in 2016.

Trade highlights by category
The main month-on-month export movements:

Submitted by: Sandile Memela / SARS Media
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