Sars: SA records trade surplus

Monday's Sars trade statistics reveal exports exceeded imports by R10.6 billion last month.

Picture: Supplied

CAPE TOWN - Low consumer confidence has contributed to South Africa recording a trade surplus in June.

Monday's Sars trade statistics reveal exports exceeded imports by R10.6 billion last month.

This has added to the country's net inflow of cash of R27.6 billion for 2017, which according to Sars is an improvement compared to the same time last year.

Standard Bank Chief Economist Goollam Ballim says this is largely due to the frail investment conditions.

“In addition to weak investment which translates to weak import of say, machinery equipment, consumer spending has also been fairly tepid for a length of time and therefore importation of consumer goods has also been relatively subdued.”