Measured at a seasonally adjusted basis, the rand value of imports increased by 4.8% month-on-month in November 2022. Measured at a 3-months annualised basis, imports were 11.9% lower, while import growth over the past 12 months amounted to 33.1%. Measured at a seasonally adjusted basis, the rand value of exports increased by 7.5% month-on-month in November 2022. Measured at a 3-months annualised basis, exports were 9.8% lower, while export growth over the past 12 months amounted to 12.4%. The latest 12-month merchandise trade balance measured a surplus of R101 billion, compared with a R329 billion surplus recorded during the 12-month period a year earlier.
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