SA recorded a trade surplus of R11.44bn for March, compared to a revised surplus of R4.79bn (from R5.22bn) in February, according to data released on Friday by the South African Revenue Service. The surplus was much larger than expected by economists. Bloomberg had forecast a R6.2bn surplus. The surplus is attributed to a 16% increase in exports, which grew by R13.96bn to R101.23bn. Imports also increased by 8.9% — R7.32bn — to R89.79bn. The year-to-date trade balance surplus of R4.98bn is an improvement on the deficit for the comparable period in 2016 of R24.27bn. Exports for the year to date grew 8% from R248.72bn in 2016 to R268.68bn. Imports of of R263.71bn, so far this year, are 3.4% less than the imports of R273bn recorded in January to March 2016.
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