External Merchandise Trade Statistics
2nd Quarter 2015
Total exports for the second quarter of 2015 amounted to R 25,863 million, 5.3% more compared to the corresponding quarter of 2014, mostly explained by a rise of 78.6% in the re-exports of “Telecommunication equipment and accessories”.Exports of Export Oriented Enterprises (EOE) rose by 3.5% to R 13,553 million. Exports to our main buyers rose for U.A.E (+88.7%), United Kingdom (+24.4%), U.S.A (+14.6%), but declined for France (-14.4%).
Compared to the previous quarter, total exports for the second quarter of 2015 rose by 12.5%, mainly as a result of an increase of 21.0% in exports of EOE following increases in “Articles of wearing apparel and clothing accessories” (+28.7%) and “Pearls, precious & semi-precious stones” (+38.1%). Increases were registered in exports to the following main markets: United Kingdom (+33.3%), U.S.A (+31.6%), France (+28.4%) and South Africa (+10.3%).
Total imports rose by 2.2% from R 41,912 million in the second quarter of 2014 to R 42,853 million in the second quarter of 2015. However, imports of “Refined petroleum products” decreased by 16.3% during the same period. Imports from our main suppliers rose for China (+9.4%) and South Africa (+2.9%) but dropped for France (-14.7%) and India (-7.6%).
Compared to the previous quarter, imports increased by 10.2%, mainly due to higher imports of “Miscellaneous manufactured articles” (+24.0%), “Manufactured goods classified chiefly by material” (+16.0), “Mineral fuels, lubricants and related products” (+10.4%) and “Food and live animals” (+8.5%). Imports from our main suppliers rose as follows: India (+23.1%), France (+17.1%), South Africa (+11.6%) and China (+4.8%).
3. Balance of trade
The trade deficit for the second quarter of 2015 worked out to R 16,990 million, 2.1% lower than the deficit of R 17,360 million for the corresponding quarter of 2014. Compared to the previous quarter, the deficit was up by 6.8%.
4. Forecast 2015
Based on data for the first semester and indicative information from various sources, total exports for the year 2015 are forecasted at R 106,000 million, against R 185,000 million for imports. Consequently, the trade deficit is expected to be around R 79,000 million.