Measured at a seasonally adjusted basis, the rand value of imports increased by 0.5% month-on-month in January 2023. Measured at a 3-months annualised basis, imports were 14.8% higher, while import growth over the past 12 months amounted to 32.2%. The rand value of exports decreased by 0.9% month-on-month in January 2023. Measured at a 3-months annualised basis, exports were 9.9% lower, while export growth over the past 12 months amounted to 10.1%. The latest 12-month merchandise trade balance measured a surplus of R49 billion, compared with a R317 billion surplus recorded during the 12-month period a year earlier.
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