SINCE the onset of the coronavirus pandemic early last year, we have been waging a struggle on many fronts. We have been working to save lives, restore human health and protect livelihoods, and all the while revive an economy that was deeply damaged by the pandemic.
As we intensify these efforts in the face of a third wave of infections, we are greatly encouraged by the latest evidence of economic recovery.
Last week, the South African Revenue Service (SARS) announced that we recorded yet another record trade surplus in May, to the value of R54.6 billion.
The surplus is due to a 1.5% increase in exports between April and May. Our trade balance surplus has been increasing year on year.
The trade surplus is primarily driven by mineral and precious metal exports as well as exports of vehicle and transport equipment, chemical products and agricultural products.
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