SA’s trade surplus widens in March

SA recorded a trade surplus of R5bn in March, as growth in exports exceeded growth in imports for the second month in a row.

March’s surplus was attributable to exports of R105.4bn and imports of R100.40bn, data from Sars showed on Tuesday. The Bloomberg consensus was for a surplus of R4.8bn.SA’s trade balance also beat expectations in February at R3.99bn — a rebound from the seasonal deficit recorded in January. Stats SA, however, revised this figure downwards slightly by R120m on Tuesday.

The balance of trade is an indicator of the difference in value between a country’s imports and exports and dictates SA’s current account, which is indicative of the country’s trade with the rest of the world. Analysts had differed ahead of the release of the statistics, with some predicting a deficit. The figures are difficult to predict and economists stress that it is important to look at longer-term trends.

Investec expected the trade account to have widened. Investec economist Kamilla Kaplan said ahead of the release, “In recent years, a sizeable surplus was typically recorded in March. This year, the size of the surplus is likely to have been tempered by the effect on imports of rising international oil prices.”

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Scandinavia’s SAS looking at ways to end strike by pilotsPilots went on strike on Friday as wage talks broke down, grounding around 70% of the airline's flights
Source: BDliveSA - 🏆 12. / 63 Read more »

Scandinavian airline SAS cuts 1,200 more flights as strike by pilots drags onSAS has cancelled 2,800 flights so far as deadlock in wage dispute shows no sign of being broken
Source: BDliveSA - 🏆 12. / 63 Read more »

Scandinavian airline SAS cuts 1,200 more flights as strike by pilots drags onSAS has cancelled 2,800 flights so far as deadlock in wage dispute shows no sign of being broken
Source: BDliveSA - 🏆 12. / 63 Read more »

Sudan protesters pledge ‘million march’ for civilian ruleFor the first time, Sudanese judges said they would join a sit-in outside army headquarters 'to support change and for an independent judiciary'.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

#Elections2019: March against corruption not an election gimmick, says DA | IOL NewsThe DA has defended its march against corruption to the office of Gauteng Premier David Makhura. Woza sizohleka bafo MmusiMaimane
Source: IOL - 🏆 46. / 51 Read more »

SA’s petrol pain set to worsen as rand hits lowest point since MarchAnother hike is predicted to see petrol rise by 51 cents a litre and diesel by five cents.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

DA march in Gauteng to deliver ‘brown bribe envelopes’'We will ensure that corruption is exposed and that those responsible are prosecuted and sent to jail,' says Msimanga.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Tony Leon, DA to march against corruption in GautengR20 billion was lost in the province over the last five years due to corruption and fruitless and wasteful expenditure, the party says.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Tony Leon, DA to march against 'corruption and wasteful expenditure' in Gauteng | IOL NewsFormer opposition leader Tony Leon will join Solly Msimanga, DA chief whip John Steenhuisen and provincial leader John Moodey ...
Source: IOL - 🏆 46. / 51 Read more »

#Elections2019: Opposition parties march into Northern Cape's hard luck towns | IOL NewsThe Northern Cape is fertile ground for opposition promises of a better future and likely to see one of the closest provincial contests.
Source: IOL - 🏆 46. / 51 Read more »

Sudan braces for 'million-strong' protest marchThe Sudanese Professionals Association, which spearheaded months of protests against Bashir, described the meeting as a step towards 'confidence-building'.
Source: SowetanLIVE - 🏆 13. / 63 Read more »