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South African bulk exports out of Saldanha surge in April to record high

South Africa’s bulk export volumes out of Saldanha, which are mostly iron ore, surged by 41.8% year on year in April to a record 7.1-million tons (Mt), data from the Transnet National Ports Authority showed.

This meant that total bulk exports grew by 12.6% year on year in April to 15.3 Mt. The increase in the first four months of 2015 was 17.3% year on year compared with only a small 2.6% gain in 2014.

This augurs well for the first quarter’s gross domestic product data due for release on May 26, as it shows that mining and transport have done well despite the challenges posed by load-shedding.

The year started with a bang as bulk exports surged by 34.1% year on year in January to a record monthly total of 16.4 Mt before slowing to a 16.4% year-on-year increase in February and a 6.3% year-on-year rise in March.

As Richards Bay Coal Terminal no longer releases operational statistics, economists are finding it more difficult to track economic performance in SA in a timeous manner.
Source: BD Live