Measured at a seasonally adjusted basis, the rand value of imports increased by 25.7% month-on-month in March 2023. Measured at a 3-months annualised basis, imports were 14.3% higher, while import growth over the past 12 months amounted to 30.8%. The rand value of exports increased by 2.7% month-on-month in March 2023. Measured at a 3-months annualised basis, exports were 9.8% higher, while export growth over the past 12 months amounted to 9.2%. The latest 12-month merchandise trade balance measured a surplus of R7 billion, compared with a R285 billion surplus recorded during the 12-month period a year earlier.
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