South African companies did not wait for them to export their products again.
When the state of containment moved to level 4 in May, exports shot up compared to April.
According to the latest figures released by the South African Revenue Service on Tuesday, exports in South Africa rose by 96.1% between April and May. In addition, imports fell by R6.11 billion (6.5%) between April and May.
South Africa posted a trade surplus of R15.94 billion in May. That’s how much the country has exported more than it did.
According to the figures, the trade surplus of R15.94 billion in May is an improvement of the trade surplus of R1.64 billion in May 2019.
South Africa exported goods worth R101.85 billion in May. It was mainly the export of locally produced products, textiles, vehicles and chemical products that skyrocketed.
For the year to the end of May, South Africa has now exported R480.09 billion worth of products. This is 9.1% less than the R506.44 billion for the same period a year earlier.
Imports during this period decreased by 2.2% from R513.66 billion to R467.12 billion.
The trade surplus for the year to end-May is now R12.97 billion. This compares with the trade deficit of R7.22 billion for the same period a year ago.
SARS says it also adjusted the April trade deficit by R0.93 billion. So it is now R35.02 billion.