Trade at R4.7bn deficit

 Johannesburg - South Africa's trade account recorded a deficit of R4.7bn in August compared with a R2bn surplus in July, the South African Revenue Service (Sars) said on Thursday.

The trade account swung to a deficit as exports fell sharply by 13.4% to R48.5bn in August, with imports down 1.5% to R53.2bn.

The trade number is generally very volatile and economists polled by Reuters had forecast a R600m surplus for August.

SARS said the cumulative deficit for the year-to-date was at R12.2bn compared to a R21.4bn shortfall at the same time last year.

Freddie Mitchell, economist at Efficient Group, called the deficit "a nasty surprise".

"The number however does possibly mean that there's some improvement in demand," he said.

"The trade deficit is as a result of exports declining in the precious and base metals which reflects moderating global growth. This would be in line with our expectations for a widening in the current account deficit. But given the volatility of this data, one should be cautious on the impact of the one-month data," Carmen Nel, economist from RMB, said.