Measured at a seasonally adjusted basis, the rand value of imports decreased by 5.6% month-on-month in July 2022. Measured at a 3-months annualised basis, imports were 67.3% higher, while import growth over the past 12 months amounted to 31.1%. The seasonally adjusted rand value of exports decreased by 1.6% month-on-month in July 2022. Measured at a 3-months annualised basis, exports were 9.1% higher, while export growth over the past 12 months amounted to 13.4%. The latest 12-month merchandise trade balance measured a surplus of R198 billion, compared with a R362 billion surplus recorded during the 12-month period a year earlier.
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