/ 29 February 2000

TRADE SURPLUS NARROWS

THE country’s trade surplus fell to R1,76-billion ($279-million) in January from R3,56-billion ($565-million) in December, according to Customs and Excise figures released on Tuesday. Imports fell to R11,8-billion in January from R12,1-billion in December. Exports fell to R13,56-billion from R15,66-billion. Economists said that even though the surplus has narrowed compared to December, it is a good result which exceeded expectations of about R1,2-billion. They attributed the result mainly to lower imports, saying that despite an economic growth rate of 3,5% in the last quarter of 1999 and a fall in local interest rates, South Africans had not gone “import crazy.”