APA-Johannesburg (South Africa) South Africa’s low exports and an appetite for higher imports in June contributed to the country’s preliminary trade deficit of US$184.2 million during the month, the South African Revenue Service (SARS) has said.
SARS’s records showed that the deficit was attributed to exports of US$8.82 billion and imports of US$9 billion – inclusive of trade with neighbouring states of Botswana, Eswatini, Lesotho and Namibia.
“Export flows decreased in June, driven by iron ores and concentrates, vehicles for goods and vehicles for passengers,” the agency said on Tuesday.
According to SARS, year-on-year export flows for June 2023 were 8.3% lower compared to US US$9.63 billion for June 2022, while imports into the country were 6.5% higher – having increased from US$8.5 billion in June 2022.
NM/jn/APA