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Trade deficit narrows in February

Mar 28 2013 16:32 Sapa

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Johannesburg - The trade deficit narrowed to R9.52bn in February from a deficit of R24.5bn in January, the SA Revenue Service (Sars) said on Thursday.

February's deficit was due to a 17% increase in exports and a 7.7% decrease in imports.

Exports in February amounted to R62.32bn and imports to R71.84bn.

The reduced trade deficit was mainly due to an increase in exports of mineral and chemical products; as well as precious metals, machinery, and electrical appliances.

Imports decreased in prepared foodstuffs, chemical products, plastics and rubber, machinery, electronics, vehicles, aircraft, and vessels.

"The cumulative deficit for 2013 is R34.11bn compared to R23.71bn in 2012," said Sars in a statement.

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