South Africa’s trade surplus has widened to a surprise R12 billion the month of June, year-on-year. That is according to statistics released by the South African Revenue Services (Sars).
This means that South Africa spent more on sending goods outside of the country than it did importing them.
The trade surplus jump is attributed to exports of over R110 billion and imports of over R98 billion.
This as exports increased by 10% compared to the same period in 2017, while imports also increased by 7.3%, which can also be attributed to more precious metals and vehicle parts going out of the country.
On a month-on-month basis, exports rose by 7.1%, while imports dipped 0.9%.
The R12 billion surplus is an improvement compared to R8.7 billion recorded for the same period of 2017.
SARS Media Release from SABC News
