South Africa's trade balance swings to surprise deficit in July

30th August 2019 By: Reuters

South Africa's trade balance swung to a R2.9-billion deficit in July after a revised R5.5-billion surplus in June, data from the revenue service showed on Friday.

A Reuters poll had forecast a R2.7-billion trade surplus.

Exports rose 3.4% on a month-on-month basis to R112.9-billion in July, but were outpaced by a steep climb in imports, which were up 11.7% to R115.8-billion, the South African Revenue Service said.