South Africa posts trade surplus, but exports falter
South Africa posted a trade surplus of nearly $250 million in December, according to official data, which will raise hopes that the country's current account shortfall has passed its worst.
The South African Revenue Service reported a surplus of 2.78 billion rand, as both exports and imports fell.
Exports decreased by 10.3 percent in December — with sales of vehicles and precious metals abroad faltering — as exporters were unable to fully capitalise on the weakening rand.
But imports decreased by a greater 12.8 percent, spelling a larger surplus than in November.