SA recorded another large trade deficit in May for its trade with non-Southern African Customs Union (non-SACU) trading partners.
An R8.9bn deficit was recorded in May‚ after a R9.9bn deficit in April‚ customs and excise figures released on Friday show.
Although still a deficit‚ it was an improvement compared with April’s almost R10bn deficit.
Customs and excise attributed May’s decline to increased exports of precious and semiprecious stones‚ mineral products‚ and machinery and electrical appliances.
Imports of mineral products and machinery and electrical appliances also increased.
A survey of economists by I-Net Bridge had forecast a R5.7bn deficit.
Forecasts among the six economists ranged from a R10bn deficit to a R4.5bn deficit.
There was a R10.6bn (20.4 percent) increase in exports to R62.8bn and an increase in imports of R9.7bn (15.6 percent) to R71.7bn.
The cumulative deficit for the year to date is R45.8bn compared with a cumulative deficit of R7.5bn in 2011.
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SA’s foreign trade account registered a R7.8bn deficit in March after a R9.5bn deficit in February.
