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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SOUTH AFRICA
MNI (London)
SOUTH AFRICA OCT TRADE BALANCE RAND -4.3B (FCST 14.7B); SEP 26.2Br
- South Africa recorded a R4.3bln trade deficit in October, a substantial miss from the R14.7bln surplus expected by the Bloomberg consensus. In October, exports fell by 17.0% on the month, whilst imports decreased by a marginal 1.3% m/m.
- This brings the year-to-date surface to R181.3bln, which is below half that of the Jan to Oct 2021 surplus.
- A marked fall in mineral exports alongside a jump in imports accounted for the bulk of the weakening trade balance. Overall exports were weaker across all top 5 export categories.
- Both significant production issues due to load-shedding and weak global demand are proving to be exerting considerable downward pressure on South African trade.
- Exports to Asia and Europe fell by 29.5%m/m and 20.2% m/m alone and a weaker-than-expected October industrial production print is likely.
Source: South African Revenue Service
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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