South Africa’s trade account recorded a R10,3-billion surplus in December compared with an R8,4-billion surplus in November, the South African Revenue Service (Sars) said on Monday.
Exports decreased by 10,4% month-on-month in December while imports fell by 15,9%. Sars said the December surplus was “buoyed by higher commodity exports, specifically iron ore, precious metals and base metals”.
Ten economists surveyed by Reuters expected the trade account to register a R2,75-billion surplus in December.
Sars said the trade account in 2010 registered a surplus for the first time since 2003 at R5-billion compared with a R27,3-billion shortfall in 2009. — Reuters