According to SARS, South Africa’s trade balance narrowed to a R1.07 billion deficit in February, from a revised R17.96 billion shortfall in January.
Exports were up 27% to R90.67 billion on a month-on-month basis, and imports rose by 2.7% to R91.74 billion on a month-on-month basis.
On a year-on-year basis, the R1.07 billion deficit is an 85.8% decrease on the deficit recorded in February 2015 of R7.53 billion. Exports of R90.68 billion are 16.5% more than the exports recorded in February 2015 of R77.82 billion. Imports of R91.75 billion are 7.5% more than the imports recorded in February 2015 of R85.35 billion.
Furthermore, the cumulative deficit for 2016 of R19.03 billion is 38.5% less than the deficit for the same period last year of R30.96 billion. The month of January 2016 trade balance deficit was revised upwards by R0.09 billion from the previous month's preliminary deficit of R17.87 billion, to a revised deficit of R17.96 billion.
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