South Africa's monthly trade deficit shrunk to R5,12-billion in August, largely due to a big fall in oil imports, official data showed on Tuesday.

South Africa's current-account deficit swelled to 9% of gross domestic product (GDP) in the first quarter of 2008, the central bank said on Thursday.

Turmoil in global financial markets makes it difficult for South Africa to finance its current account deficit, Treasury director general Lesetja Kganyago said on Tuesday.