South Africa’s trade surplus rises in March
JOHANNESBURG, May 3 — South Africa’s trade surplus widened to 52.77 billion rand (3.64 billion U.S. dollar) in March from 31.22 billion rand (2.15 billion dollar) in February, data from the South African Revenue Services (SARS) showed on Friday.
Both exports and imports figures improved in March, the SARS said.
The trade surplus is attributable to exports of 168.29 billion rand (11.61 billion dollar) and imports of 115.52 billion rand (7.97 billion dollar), it said in a statement.
The first quarter registered a trade surplus of 96.63 billion rand (6.66 billion dollar), up from 31.67 billion rand (2.18 billion dollar) a year earlier. Exports increased by 45.6 percent year-on-year whilst imports increased by 22.7 percent over the same period, the SARS said.
China accounted for 12 percent of South Africa’s exports and 19 percent of its imports, the largest in both categories.
Trade between South Africa and its neighbors, including Botswana, Namibia, Lesotho and Swaziland, also continued growing.