South Africa's trade account recorded a surplus of R4.7bn in December compared with an R8bn deficit in November, the South African Revenue Service said on Tuesday.

Exports fell by 8.0% month-on-month to R63.0bn in December while imports plunged by 23.8% to R58.3bn.

Economists surveyed by Reuters expected a shortfall of R3bn for December but the data is volatile and thus hard to forecast.

SARS said the trade account had a cumulative deficit of R15.1bn for 2011 from a surplus of R4.8bn in 2010.

Source - News24

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