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SA trade balance swings to R10.8bn deficit in January

Sars says exports in January fell by 14% on a month-on-month basis, while imports were up 12.5%.

Port Control harbour in Cape Town. Picture: EWN.

JOHANNESBURG – South Africa posted a R10.81 billion ($830 million) trade deficit in January, more than market expectations, following a revised R12.41 billion surplus in December, data from the revenue agency showed on Tuesday.

Exports in January fell by 14% on a month-on-month basis, while imports were up 12.5%, the South African Revenue Service (Sars) said in a statement.

Analysts polled by Reuters had expected a trade deficit of R8.4 billion for January.

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