South Africa posts trade surplus, but exports falter

31st January 2014, Comments 0 comments

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.

© 2014 AFP

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