SOUTH AFRICA BALANCE OF TRADE

South Africa recorded a trade deficit of 24526.70 Million ZAR in January of 2013. Balance of Trade in South Africa is reported by the South African Revenue Service. Historically, from 1957 until 2013, South Africa Balance of Trade averaged -130.23 Million ZAR reaching an all time high of 10327.90 Million ZAR in December of 2010 and a record low of -24526.70 Million ZAR in January of 2013. South Africa has been posting trade deficits primarily due to deterioration in commodities exports and high imports of fuel and high value added goods. The country is rich in mineral resources and is the world’s major exporter of chromium and platinum (8 percent of total exports). Other exports include: gold (8 percent), coal (6 percent), iron ores (7 percent) and motor vehicles and car parts (5 percent). Main imports are: fuel (24 percent of total imports), motor vehicles (10 percent), electronics (3 percent) and pharmaceuticals (2 percent). Main trading partners are Japan (10 percent of exports and 6 percent of imports) and Germany (7 percent of exports and 11 percent imports). Others include: United States, China and United Kingdom. This page includes a chart with historical data for South Africa Balance of Trade.

Source: TradingEconomics.com