SA recorded a trade surplus of R5.94bn for August, almost three times one of the consensus expectations. The surplus was attributed to a 15.2% increase in exports year on year, while imports declined 1.3%, Statistics SA said on Friday. The year-to-date surplus of R43.45bn was an improvement on the R13.67bn deficit for the comparable period in 2016. Exports for the year to date grew by 5.8% to R761bn, while imports for the same period declined by 2.1%, to R717bn, Stats SA said. A consensus forecast by Bloomberg had expected a R2.1bn surplus in August, from R9bn in July. Analysts had expected the narrowing based on seasonal considerations, while the overall positive trade position could be ascribed to improved global growth, even as domestic economic conditions constrained imports. July 2017’s surplus was revised upwards by R0.34bn, from the previous month’s preliminary R8.99bn, to a revised R9.33bn.
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