R10.3bn trade surplus in December

Statistics for December recorded a trade surplus of R10.3 billion, compared to R8.4bn in November, the SA Revenue Service said.

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Trade statistics for December recorded a trade surplus of R10.3 billion, compared to a trade surplus of R8.4bn in November, the SA Revenue Service (Sars) said on Monday.

December's surplus was due to a decrease in exports of 10.4 percent and a decrease in imports of 15.9 percent.

Exports for December 2010 of R53.9bn and imports of R43.6bn resulted in a surplus of R10.3bn, Sars said in a statement.

In December 2009, there was a trade surplus of R3.6 billion.

“The trade surplus for December 2010 was buoyed by higher commodity exports, specifically in iron ore, precious metals and base metals,” Sars said.

The cumulative surplus for 2010 is R5bn compared to a deficit of R27.3bn in 2009.

This is an improvement of R32.3bn or 118.3 percent.

The last time a surplus was recorded for the year was in 2003 when it was R12bn. - Sapa

Source: http://www.iol.co.za/r10-3bn-trade-surplus-in-december-1.1019336

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