Latest trade data released by the SA Revenue Service (Sars) paints a concerning picture of commerce and industry across South Africa and neighbouring BELN countries – Botswana, Eswatini, Lesotho, and Namibia. Most alarming, Sars said a trade deficit of R8.82bn had been recorded for the year-to-date period of January 1 to October 31, compared to a surplus of R48.94bn for the same period in 2017. Commenting on the “deterioration of the surplus”, the tax authority added that year-to-date exports had actually increased by 6.6%. Imports for the same period also rose by 13.3%. Trade data for SA and BELN for last month alone amounted to a deficit of R5.5bn – attributable to exports of R11.32bn and imports of R127.87bn. As for September, the year’s “trade deficit was revised downwards by R0.97bn from the previous month’s preliminary deficit of R2.95bn to a revised deficit of R3.83bn”.
