The value of base metals exported from South Africa declined by 6.1pc to ZAR10bn ($668.05mn) in January while imports climbed by 6.7pc to ZAR5.8bn compared to the same year-ago month according to the South African Revenue Service (SARS).

 

South Africa exported mineral products worth ZAR28.8bn ($1.9bn) in January, up 1.2pc on an annual basis while imports declined by 24pc to ZAR13.5bn during the same period.

 

The data indicated that minerals made up 26.2pc of total exports from the country and were 13.7pc of total imports against the same month a year ago. Base metals constituted 9.1pc of total exports and 6pc of total imports. 

 

The share of machinery and appliances was 7pc of total exports and 22.9pc of total imports in value terms. Machinery and appliances grew by 15.6pc to ZAR7.6bn in January 2020 against the year-ago as imports increased by 2pc to ZAR22.5bn in the same timeframe. 

 

Transport Equipment made up 7.5pc of total exports and constituted 8.2pc of imports in South Africa. The value of exports for this segment rose by 6.5pc to ZAR8.2bn in January compared to the same month a year ago. Imports fell by 12.3pc to 8.1bn in during this period. 

 

South Africa achieved a ZAR11.8bn trade surplus in January on exports of ZAR109.8bn and imports of ZAR97.93bn. Exports increased by 8.7pc to ZAR109.8bn as imports fell by 2.5pc to ZAR97.9bn in January 2021 compared to the same month last year. Compared to a year ago, the trade balance improved from a trade deficit of ZAR2.7bn in January 2020 to a trade surplus of ZAR11.8bn this January. 

 

($1=ZAR14.98)

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