Trade balance swings to deficit in July

South Africa’s trade balance swung to a deficit of R4.66 billion ($317 million) in July from a revised R11.89 billion surplus in June, data from the revenue agency showed on Friday.

Exports fell by 2.7% on a month-on-month basis to R107.07 billion in July, while imports increased by 13.8% to R111.72 billion, the South African Revenue Service said in a statement.