South Africa’s monthly trade deficit narrowed to R5,8-billion in February, compared with January’s R10,2-billion shortfall, the South African Revenue Service said on Monday.
Economists polled by Reuters last week had forecast a deficit of R7-billion.
Compared with the previous month, exports rose by 19,28%, largely due to a sharp rise in vehicle exports, while imports increased by 6,44%.
The cumulative deficit of R16-billion for the first two months of the year was up on the R12,3-billion shortfall for the same period last year. — Reuters