Exports lift trade surplus to nearly R18bn in June

JOHANNESBURG - South Africa's surplus widened to nearly R18 billion in June.

This was attributable to exports of R193.6 billion against imports of R175.8 billion.

Stronger sales of vehicles, chemicals, food products, and precious metals drove export growth.

Imports declined as purchases of mineral products and transport equipment eased.

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The June surplus marked an improvement from May’s R185.6 billion.

Export flows were also higher compared to R170.5 billion in the same period last year.

Economists warn that the improvement may be short-lived.

Rising oil prices and a weaker rand could increase import costs and put pressure on the trade balance in the months ahead.