Owing to a decline in coal and iron-ore exports and an increase in oil imports, South Africa saw its trade deficit widen during August.

According to business publication, Bloomberg, exports declined by 5.9% to R87.6 billion, led by a 20% drop in shipments of minerals products.

Imports rose 3.6% to R97.6 billion as purchases of vehicle and transportation equipment jumped 22%, while oil increased by 12%. “The broadly unfavourable global growth prospects are likely to exert pressure on South Africa’s potential export growth,” said Investec economist Kamilla Kaplan. –

See more at: http://www.ftwonline.co.za/article/102410/SA-s-exports-drop-widening-trade-deficits#sthash.f5uKxI11.dpuf

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