Thursday, March 23, 2023
  • Login
Upgrade
The Southern African Times
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
    • Lifestyle
      • Health
      • Culture
      • Food and Drink
      • Entertainment
  • Opinion
  • Sports
  • SAT Jobs
No Result
View All Result
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
    • Lifestyle
      • Health
      • Culture
      • Food and Drink
      • Entertainment
  • Opinion
  • Sports
  • SAT Jobs
No Result
View All Result
The Southern African Times
No Result
View All Result
Home in Southern Africa

South African trade surplus declines in August as loadshedding persists

by SAT Reporter
October 4, 2022
in in Southern Africa, South Africa
0
South African trade surplus declines in August as loadshedding persists
0
VIEWS

South Africa’s trade surplus decreased from 1.45 billion U.S. dollars in July 2022 to 424 million dollars in August 2022 due to load shedding and other constraining issues, said the First National Bank (FNB) on Tuesday.

The FNB, one of South Africa’s “big four” banks, said the trade surplus in August 2022 is the second lowest surplus since May 2020. The FNB head of trade – structured trade and commodity finance, Bobby Madhav said the trade surplus was lower than the expected 1.4 billion dollars.

“The smaller surplus was the result of a decrease in exports of one percent month on month and a sizable increase of 10.4 percent in imports compared to the previous month. The decline in exports came mainly on the back of substantial lower exports of precious metals and stones of (-15 percent); base metals of (-11 percent) and chemical products of (-13 percent),” said Madhav.

He said that the country has failed to mine and ship products to export markets during a time of high (although somewhat softer) global commodity prices. Madhav explained that imports of mineral products increased by 14 percent, machinery and electronics by 16 percent and original equipment components by 13 percent.

He said “Asia was once again the only region that South Africa recorded a marked deficit with 2.12 billion U.S. dollars. The deficit with this region has been ever-increasing recently, with imports from China rising considerably and exports to that country moderating.”

Madhav said China was still the top import and export partner of South Africa, accounting for 21.6 percent of total South African imports. The U.S. was South Africa’s second largest import partner (7.2 percent of the share) and followed by Germany (6.9 percent share).

Madhave pointed out that business confidence continues to decline after inflationary pressures forced the South African Reserve Bank to increase repo rate by 75 basis points. He said employment data shows that formal employment declined.

Madhav said the current load shedding that affects manufacturers and miners to maintain their production targets would negatively affect trade prospects in the next coming months.

Previous Post

Billionaire Ibrahim decries double standard in West seeking gas from Africa

Next Post

Rwanda’s path to progress similar to the one taken by Singapore: President Paul Kagame

SAT Reporter

Related Posts

South African authorities arrest 87 ahead of anti-government protest
South Africa

South African authorities arrest 87 ahead of anti-government protest

by SAT Reporter
March 20, 2023
All set for commissioning of new generator to boost Zimbabwe’s power supplies
Business

All set for commissioning of new generator to boost Zimbabwe’s power supplies

by SAT Reporter
March 20, 2023
Uhuru Kenyatta visits DR Congo to facilitate peace process
Democratic Republic of Congo

Uhuru Kenyatta visits DR Congo to facilitate peace process

by SAT Reporter
March 11, 2023
Tanzania, World Bank pledge to support women in accessing digital technologies
Tanzania

Tanzania, World Bank pledge to support women in accessing digital technologies

by SAT Reporter
March 8, 2023
South Africa gets new minister to tackle power crisis
South Africa

South Africa gets new minister to tackle power crisis

by SAT Reporter
March 7, 2023
Next Post
Rwanda’s path to progress similar to the one taken by Singapore: President Paul Kagame

Rwanda's path to progress similar to the one taken by Singapore: President Paul Kagame

Browse by Category

  • African Continental Free Trade Area
  • African Debt
  • African Start ups
  • Algeria
  • Analysis
  • Angola
  • Asia
  • Botswana
  • BOTSWANA
  • Burkina Faso
  • Burundi
  • Business
  • Business
  • Cameroon
  • Central Africa
  • China
  • Climate Change
  • Climate Changev
  • Congo Republic
  • COVID 19
  • Culture
  • Democratic Republic of Congo
  • Eastern Africa
  • Education
  • Egypt
  • Entertainment
  • Environment
  • Ethiopia
  • Europe
  • Fashion
  • Feature
  • Finance
  • Food
  • Food and Drink
  • Foods
  • Ghana
  • Global
  • Guinea
  • Health
  • Immigration
  • in Southern Africa
  • International news
  • Just In
  • Kenya
  • Lesotho
  • Libya
  • Life Style
  • Lifestyle
  • Malawi
  • Malawi
  • Mali
  • Markets
  • Middle East
  • Mozambique
  • Namibia
  • Nigeria
  • North Africa
  • Opinion
  • Politics
  • Rwanda
  • SAT Jobs
  • Senegal
  • Seychelles
  • South Africa
  • South Sudan
  • Sports
  • Startup Africa
  • STOCK EXCHANGE
  • Tanzania
  • Tech
  • Togo
  • Travel
  • Travel
  • Tunisia
  • Uganda
  • Uncategorized
  • West Africa
  • World
  • World
  • ZAMBIA
  • Zambia
  • ZIMBABWE
  • Zimbabwe

Browse by Tags

africa African business news Africa News african footballer African investments African news African start-up Agriculture banking Business China Classic Climate change Content currency economy Explore Bali Finance football Health Investment Kenya Life Style Markets Market Stories Nigeria oil and gas Opinion Pandemic Politics Premium Russia South Africa Southern African News sports Stay Home technology Travel United Kingdom United Stated Vaccine Work From Home Wuhan Zambia Zimbabwe

Categories

  • African Continental Free Trade Area
  • African Debt
  • African Start ups
  • Algeria
  • Analysis
  • Angola
  • Asia
  • Botswana
  • BOTSWANA
  • Burkina Faso
  • Burundi
  • Business
  • Business
  • Cameroon
  • Central Africa
  • China
  • Climate Change
  • Climate Changev
  • Congo Republic
  • COVID 19
  • Culture
  • Democratic Republic of Congo
  • Eastern Africa
  • Education
  • Egypt
  • Entertainment
  • Environment
  • Ethiopia
  • Europe
  • Fashion
  • Feature
  • Finance
  • Food
  • Food and Drink
  • Foods
  • Ghana
  • Global
  • Guinea
  • Health
  • Immigration
  • in Southern Africa
  • International news
  • Just In
  • Kenya
  • Lesotho
  • Libya
  • Life Style
  • Lifestyle
  • Malawi
  • Malawi
  • Mali
  • Markets
  • Middle East
  • Mozambique
  • Namibia
  • Nigeria
  • North Africa
  • Opinion
  • Politics
  • Rwanda
  • SAT Jobs
  • Senegal
  • Seychelles
  • South Africa
  • South Sudan
  • Sports
  • Startup Africa
  • STOCK EXCHANGE
  • Tanzania
  • Tech
  • Togo
  • Travel
  • Travel
  • Tunisia
  • Uganda
  • Uncategorized
  • West Africa
  • World
  • World
  • ZAMBIA
  • Zambia
  • ZIMBABWE
  • Zimbabwe

Browse by Tag

africa African business news Africa News african footballer African investments African news African start-up Agriculture banking Business China Classic Climate change Content currency economy Explore Bali Finance football Health Investment Kenya Life Style Markets Market Stories Nigeria oil and gas Opinion Pandemic Politics Premium Russia South Africa Southern African News sports Stay Home technology Travel United Kingdom United Stated Vaccine Work From Home Wuhan Zambia Zimbabwe
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
    • Lifestyle
      • Health
      • Culture
      • Food and Drink
      • Entertainment
  • Opinion
  • Sports
  • SAT Jobs

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?