The trade surplus for the first 8 months of the year was R26.8bn, more than double the surplus the same period in 2000. Exports during August were R21.8bn, up from the R20.3bn in July. Mineral exports are still performing excellently but vehicle exports show the effect production interruptions during the strike. Base metals exports have also been weaker during recent months.
Most sectors show signs of a slowdown.
The exception is the surging imports of petroleum products after the fire at Sasol's Natref refinery. The main reason is not the expected slowdown in exports, but rather the sharply higher mineral imports during August. Apart from oil, other imports are rather weak and no increase is expected in the near future. Exports are maintaining their momentum, despite the slowdown in the world economy. However, base metal exports are has been influenced by lower commodity prices.