S.Africa records trade deficit of 1.0 bln rand in May
South Africa's trade deficit narrowed to 1.0 billion rand in May -- in line with forecasts -- from a 2.4 billion rand shortfall, the South African Revenue Service said on Thursday.
"The reduction in the trade deficit was underpinned by higher commodity exports, specifically precious and base metals," SARS said in a statment.
Exports rose by 9.0 percent month-on-month in May while imports were up 6.0 percent.
Economists surveyed by Reuters expected the trade account to register a 1.0 billion rand shortfall in May.
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