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Trade account surplus widens

Johannesburg - South Africa recorded a wider R2.78bn ($249m) trade surplus in December from R770m the previous month, data from the South African Revenue Service (Sars) showed on Friday.

This will raise hopes that the country's current account shortfall has passed its worst.

The data incorporates previously excluded trade with South Africa's regional neighbours Botswana, Lesotho, Namibia and Swaziland, collectively referred to as BLNS.

When stripping out trade with the BLNS countries, the trade balance showed a R4.31bn deficit for December, much narrower than the R9.24bn shortfall for November.

Exports decreased by 10.3% in December - with sales of vehicles and precious metals abroad faltering - as exporters were unable to fully capitalise on the weakening rand.

But imports decreased by a greater 12.8%, spelling a larger surplus than in November.

The cumulative deficit for 2013 amounted to R69.91bn, double that recorded in 2012.




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