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Trade Statistics for December 2013

05 February 2014   (0 Comments)
Posted by: Author: SARS Legal and Policy
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Author: SARS Legal and Policy

Note: The numbers indicated in RED EXCLUDE trade with BLNS countries, which was how monthly trade statistics were issued previously. The comparative figures in RED are included for the sake of transparency. The inclusion of BLNS country trade data was announced on 14 November 2013 and will be included in all future trade statistics.
 
The South African Revenue Service (SARS) released trade statistics that includes trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS) for December 2013 that recorded a trade surplus of R2.78 billion [trade deficit R4.31 billion].
  
Summary   

The R2.78 billion surplus for December 2013 [trade deficit R4.31 billion] can be attributed to exports of R77.59 billion [R68.64 billion] and imports of R74.81 billion [R72.95 billion].
 
Exports decreased from November to December by R8.91 billion (10.3%) [R5.31 billion (7.2%)] and imports decreased from November to December by R11.0 billion (12.8%)[R10.29 billion (12.4%)]. 
 
The cumulative deficit for 2013 is R69.91 billion [R157.32 billion] compared to R34.68 billion [R116.95 billion] in 2012.
 
Trade Highlights by Category

The November to December change (down by 10.3%) [down by 7.2%] in exports of goods reflected decreases in:

  • Precious Metals & Stones decreased by R3 974 million (24.0%) [R3 279 million (20.7%)];
  • Vehicles & Transport Equipment decreased by R1 948 million (20.8%) [R1 658 million (20.6%)];
  • Base Metals decreased by R 1 223 million (11.2%) [R 908 million (9.0%)];
  • Machinery & Electronics decreased by R 652 million (7.8%) [R 95 million (1.4%)];

 The November to December change (down by 12.8%) [down by 12.4%] in imports of goods reflected decreases and an increase in:

  • Machinery & Electronics decreased by R4 204 million (18.4%) [R4 166 million (18.3%)];
  • Chemical Products decreased by R1 665 million (20.2%) [R1 626 million (21.3%)];
  • Plastics & Rubber decreased by R 970 million (27.5%) [R946 million (27.2%)];
  • Base Metals decreased by R 856 million (20.5%) [R818 million (19.9%)];
  • Textiles decreased by R 791 million (27.0%) [R 688 million (26.1%)];
  • Mineral Products increased by R 933 million (5.4%) [R 1 043 million (6.1%)]; 

Trade Highlights by World Zone   

The world zone results for November to December 2013 as given below.

  • Asia:  The deficit decreased from R13 762 million in November 2013 to R10 905 million in December 2013. Exports decreased by R 1 651 million to R 25 372 million and imports decreased by R4 509 million to R36 277 million.
  • Europe:  The deficit decreased from R7 331 million in November 2013 to R3 182 million in December 2013. Exports increased by R 584 million to R18 523 million and imports decreased by R3 566 million to R 21 705 million.
  • America:  The deficit increased from R1 016 million in November 2013 to R1 439 million in December 2013. Exports decreased by R 241 million to R6 721 million and imports increased by R182 million to R8 160 million.
  • Africa:  The surplus decreased [increased] from R17 178 million [R7 188 million] in November 2013 to R15 005 million [7 917 million] in December 2013. Exports decreased by R5 085 million [R 1 477 million] to R22 424 million [R13 476 million] and imports decreased by R2 912 million [R2 206 million] to R7 419 million [R5 559 million].
  • Oceania:    The deficit increased from R 286 million in November 2013 to R 488 million in December 2013. Exports decreased by R 249 million to R 729 million and imports decreased by R 46 million to R1 217 million.

Trade Statistics tables 

Trade Statistics with BLNS countries:

Trade statistics with the BLNS for December 2013 recorded a trade surplus of R7.09 billion.

Summary

The R7.09 billion surplus for December 2013 can be attributed to exports of R8.95 billion and imports of R1.86 billion.
 
Exports decreased from November to December by R3.61 billion (28.7%) and imports decreased from November to December by R0.71 billion (27.5%). 
 
The cumulative surplus for 2013 is R87.41 billion compared to R82.27 billion in 2012.

Trade Highlights by Category

The November to December change (down by 28.7%) in exports of goods reflected decreases in:

  • Precious and semi-precious stones and metals decreased by R 695 million (97.1%).
  • Mineral products decreased by R 692 million (27.7%).
  • Machinery & Electronics decreased by R557 million (33.1%)
  • Base Metal decreased by R 315 million (39.8%)
  • Vehicles & Transport Equipment decreased by R290 million (22.1%)
  • Textiles decreased by R 207 million (35.6%)
  • Chemical products decreased by R 203 million (18.8%).

The November to December change (down by 27.5%) in imports of goods reflected decreases in:

  • Precious and semi-precious stones and metals decreased by R 161 million (-51.7%).
  • Mineral Products decreased by R 110 million (-66.7%).

WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

MINIMUM REQUIREMENTS TO REGISTER

The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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