South Africa records trade surplus of more than $4 bln in October – revenue service


JOHANNESBURG, November 30 – South Africa recorded a trade surplus of of R4.56 billion in October, after a surplus of R4.48 billion rand in the previous month, the revenue service said on Thursday.

The South African Revenue Service (SARS) said the surplus was a result of export receipts of R104.51 billion against imports of R99.95 billion.

“Exports increased from September 2017 to October 2017 by R2.29 billion (2.2%) and imports increased from September 2017 to October 2017 by R2.21 billion (2.3%),” SARS said.

The October trade data leaves South Africa with a trade surplus of nealry R52 billion in the year to date, compared with a shortfall of nearly R10 billion over the same period in 2016.

January – October exports have risen 6.6 percent on a year-on-year basis, while imports have dipped by 0.2 percent.

– African News Agency (ANA)