South African trade deficit narrows as imports sink

South Africa edged further away from recent record trade deficits in December, thanks to a 16.0-percent drop in imports.

The South African Revenue Service reported that the trade deficit narrowed to considerably to 2.7 billion rand ($300 million) from 7.9 billion the month before — a near record level.

The drop was largely thanks to a sharp reduction in imports, with South Africans importing more than 30 percent less vegetables, textiles, metals and manufactured goods.

Imports of equipment components decreased by 42 percent.