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Trade deficit narrows in Feb

28th March 2013

By: Sapa

  

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The trade deficit narrowed to R9.52-billion in February from a deficit of R24.5-billion in January, the SA Revenue Service (Sars) said on Thursday.

February's deficit was due to a 17% increase in exports and a 7.7% decrease in imports.

Exports in February amounted to R62.32-billion and imports to R71.84 billion.

The reduced trade deficit was mainly due to an increase in exports of mineral and chemical products; as well as precious metals, machinery, and electrical appliances.

Imports decreased in prepared foodstuffs, chemical products, plastics and rubber, machinery, electronics, vehicles, aircraft, and vessels.

"The cumulative deficit for 2013 is R34.11-billion compared to R23.71-billion in 2012," said Sars in a statement.

Edited by Sapa

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