South Africa’s trade balance for August swings into a R6.84bn surplus
Data released by the South African Revenue Service (Sars) showed that exports in precious metals and stones, machinery, electronics, vehicles and transport equipment increased by R9.46bn from July to August.
Imports decreased by R1.11bn during the period, largely due to a decline in oil imports, vehicle and transport equipment, and original equipment components. Sars said the surplus was attributable to exports of R122.02bn and imports of R115.17bn.
NCK Research said the rebound was not a cause for celebration, as export demand could take strain during the rest of the year.
NKC analyst Elize Kruger said they forecast a slight deterioration in the current account deficit to gross domestic product ratio, from 3.5percent in 2018 to 3.6percent in 2019.
Source: iol.co.za
