Imports from the country rose 22% when compared with the corresponding period last year, and by 18% year-to-date, the South African Chamber of Business (Sacob) said this week.
The value of imports, at $256 954, was 21,7% or $45 855 up on July, 2003.
The top ten import product groups for July, were machinery and mechanical which grew by 6,5%; vehicles, parts and accessories despite a 12,9% decline, optical and photographic products which increased by 29,8%; organic chemicals with a significant 34,4% increase; aircraft and parts which increased by 20,9%; electrical machinery and equipment, up 15,1%; precious metals and stones which increased by a massive 584,7%; miscellaneous chemical products which declined by 4,2%; plastics with a 13,5% increase; and cereals with a 51,2% rise.
Year-to-date, the top ten import product groups were machinery and mechanical with a 3,5% increase; vehicles, parts and accessories which rose by 8,9%; aircraft and parts with a 40% increase; electrical machinery and equipment which increased by 26,5%; optical and photographic products with a 24,6% increase; organic chemicals, up 33,3%; plastics which increased by 6,8%; mineral fuels and oils which declined by 8,6%; miscellaneous chemical products, up 8,1%; and precious metals and stones with a substantial 191,6% increase.
The value of exports to the US for July, 2004, at $498 759, increased marginally by 1,4% or $6 928, as compared to the corresponding month last year, and 22,8% higher for the year-to-date period.
Sacob said that precious metals and stones continue to underpin the good export performance with iron and steel products showing strong growth on the back of increased global demand and process.
However, vehicle parts and accessories exports were down by 75% for the month and 25% down for the year to date.
The top ten export product groups for July, 2004, were precious metals and stones with a 41,8% rise; iron and steel with a significant 201,8% increase; vehicles, parts and accessories, despite a decline of 75,2%; ore, slag and ash with a 53,7% decrease; edible fruit and nuts which declined by 29,4%; machinery and mechanical which declined by 19,7%; organic chemicals with a 19,5% rise; aluminium which increased significantly by 46,6%; apparel articles (not knitted) which declined by 71,7%; and inorganic chemicals which declined by 15,8%.
Sacob reported the top ten export product groups for the year-to-date as being precious metals and stones which increased by 51%; vehicles, parts and accessories despite a 24,6% decrease; iron and steel, up by 76,4%; ore, slag and ash which declined by 6,3%; machinery and mechanical with a 2,3% decline; aluminium which increased by 64,2%; organic chemicals with a 1,4% rise; inorganic chemicals which decreased by 7,8%; apparel articles (not knitted) despite a 48,7% decline; and articles of iron and steel which increased by 41,1%.
The trade balance for July, 2004, at $242-million was 13,9% or $39-million less than July, 2003, in South Africa's favour.
The trade balance for the year-to-date, at $1,698-billion, was 27,7% or $368-million higher than the same period last year, also in South Africa's favour.
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