SA notches up eighth month of trade surplus
The surplus was attributable to exports of R101.76bn and imports of R97.76bn
Commodities continued to propel export performance, resulting in SA’s trade account recording a fourth consecutive quarter of surplus. Metals prices have strengthened over 2017 on tightening supplies, while global merchandise goods trade also rebounded as global growth has continued to pick up momentum. "Despite the more favourable global backdrop, growth in the local mining and manufacturing sectors has been constrained by weak domestic demand and persistent policy uncertainty, which continues to manifest in depressed business and consumer confidence," Investec economist Kamilla Kaplan said. "Weak rates of domestic consumption and investment have contributed to import compression," she said. The South African Revenue Service recorded a R4bn trade balance surplus, far lower than many economists’ projections for September 2017. The surplus was attributable to exports of R101.76bn and imports of R97.76bn. SA’s cumulative trade surplus in the first nine months of 2017 stands at more th...
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