1 minute read
1 Mar 2014
10:11 am

Trade returns to deficit

South Africa turned in a trade deficit in January with a jump in imports, after posting a surplus the month before, official data showed on Friday.

PHOTO: AFP.

The South African Revenue Service reported the $15.9 deficit (17.06 billion rand) against a 26.3 percent increase in imports while exports improved slightly by 0.1 percent from December.

The biggest rises in imports were in vehicle components and plastics and rubber.

The rand currency lost nearly 18 percent against the dollar last year.

In November, Africa’s largest economy saw its first surplus in almost two years, following a change in the way the data were calculated.

AFP