South Africa recorded a trade deficit of R14,3-billion in July compared with June’s small R180-million shortfall, the South African Revenue Service said on Friday.
Economists polled by Reuters last week had forecast a deficit of R3,9-billion, but the trade number is generally volatile and hard to predict.
Compared with the previous month, exports rose by 1,84% while imports increased by 25,28%, partly on a sharp rise in imports of minerals products, which include oil.
The cumulative trade deficit for the first seven months of the year was R50,7-billion compared with R40,9-billion during the same period last year. — Reuters