JOHANNESBURG: South Africa’s trade deficit narrowed in November from record levels seen the month before, thanks to a sharp drop in imports, official data showed.
The deficit narrowed to 7.94 billion rand ($930 million) as imports of vehicles, aircraft and vessels dropped and labor unrest ebbed, allowing mining exports to tick up.
The deficit shrank more than 60 percent from October, when a slump in metals exports led to a shockingly high trade gap.
Mining output had been significantly slowed by a wave of deadly labor strikes which curbed platinum and gold production.
But in November the export of precious and semi-precious stones and metals increased by 26 percent.
South Africa trade deficit narrows from record high
South Africa trade deficit narrows from record high
