South Africa’s trade balance swings back to surplus

By bne IntelliNews November 1, 2010
South Africas trade balance swung back to a surplus Sep of ZAR3.6bn, against a ZAR 4.6bn shortfall in August, as exports rose, but analystssuggest strong pre-Christmas consumer demand could push the balance back intodeficit. The South African Revenue Service said exports rose 9.6% in the month,boosted by minerals and metals, but imports dropped 6.9% on lower demand foraircraft, machinery, original equipment and vehicles. Isaac Matshego,economist at Nedbank, said that with the global economy faltering, strongexports might not be sustained. In Q2, the trade account registered a ZAR13.2bn surplus, helping to narrow the current account deficit to 2.5%. NationalTreasury said in its three-year policy framework that an economic recoveryshould see the current account deficit widen in the medium term.

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