South Africa’s trade deficit widened to R7,1-billion in September, from a R5,12-billion shortfall in August, the South African Revenue Service said on Friday.
Economists polled by Reuters last week had forecast a deficit of R4-billion, but the trade number is generally volatile and hard to predict.
Compared with the previous month, exports increased by 1,12%, while imports rose by 4,07%, largely due to higher imports of mineral products, which includes oil, and chemical products.
The cumulative trade deficit for the first nine months of the year was R61,6-billion compared with R55,3-billion during the same period last year. — Reuters