South Africa’s trade balance swings to a surplus in May

Exports jumped 96.1% on a month-on-month basis to R101.85 billion.
Image: Waldo Swiegers/Bloomberg

South Africa’s trade balance swung to a surplus of R15.94 billion ($918.20 million) in May from a revised deficit of R35.95 billion in April, data from the revenue service showed on Tuesday.

Exports jumped 96.1% on a month-on-month basis to R101.85 billion, while imports were down 2.2% to R85.91 billion, the South African Revenue Service said.

A strict coronavirus lockdown from late March has been partially eased to allow key sectors like mining to resume operations.

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   9

Sort by:
  • Oldest first
  • Newest first
  • Top voted

You must be signed in to comment.

SIGN IN SIGN UP

Good news? Will be shocked if anyone comments on this article but me. If anything a surplus such as this show how SA wealth is spread. Only a few have their hands on the money and as such they are the only ones who can spend.

Any good news is welcome

Yes this lockdown is doing wonders for the country. We should make it permanent and everyone will be rich and drive a new Chevrolet. Halleluja!!!

thanks to a depreciated Rand…. but overalll…. we all poorer in dollar terms

Not surprising, we have no resources to buy anything!

It must be remembered that it is off a low base the previous month. Better insight will be given for June vs May’s figures, though.

This is fantastic news! Well done SA!!!!

Good, now the ANC Govt needs to start concentrating and stay focussed.
the first thing they must do with regard to Export vs Import, is to keep China at bay as we can no longer afford to allow China to milk us dry and leave us with the huge deficit that they have done so far.

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

NEWSLETTERS WEB APP SHOP PORTFOLIO TOOL TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: