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.

Related Articles

South Africas Exxaro mulls firing striking coal miners.

South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more

South Africas Telkom says there is no decision to lay off 13,000 employees.

South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more

BP, Masana Petroleum Solutions sell LPG business in South Africa.

Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss