The South African Revenue Service (Sars) has issued its February trade statistics which reveal a welcome surplus.
According to the data, South African exports increased by R18.14 billion or 16.5% between January and February. In comparison, imports increased by R1.6 billion or 1.6%.
According to a News24 report, the trade surplus stands at R41.38 billion for the year to date, which is higher than the R10.28 billion surplus recorded for the same period last year.
Quoted in the report, Investec economist Lara Hodes said the trade highlights showed that the lift in exports was broad based. "Specifically, vehicle and transport equipment exports rose by a marked 73%. Conversely, most major import categories experienced declines, besides mineral products and original equipment components," she said.
- News24
