South Africa's Trade Balance Swings To Deficit

(RTTNews) - South Africa's trade balance showed an unexpected shortfall in August, trade statistics from the South African Revenue Service showed Friday

The trade balance posted a deficit of ZAR 8.56 billion in August, while economists expected the surplus to narrow to ZAR 1.6 billion from revised ZAR 5.04 billion in July.

Nonetheless, the deficit narrowed from ZAR 10.45 billion seen in the prior year.

Exports decreased 5.5 percent from July, while imports grew 9.2 percent in August.

The cumulative trade balance for January to August showed a surplus of ZAR 7.41 billion compared to a deficit of ZAR 35.10 billion in previous year.