South Africa’s trade balance swings to a deficit 17.87 billion rand ($1 billion) in January from a revised 7.56 billion rand surplus in December, the national revenue agency said on Monday.
Exports were down by 18.8 percent to 71.5 billion rand on a month-on-month basis, while imports rose by 11 percent to 89 billion rand on a month-on-month basis, the South African Revenue Service said in a statement.
The consensus for the trade deficit was 14.10 billion rand.
($1 = 16.0495 rand)
Babatunde Akinsola ✔
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports
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