S. Africa trade deficit widens in quar­ter 2

Business Daily (Kenya) - - MARKET CURVE -

South Africa’s cur­rent ac­count deficit widened to 2.4 per cent of GDP in the sec­ond quar­ter, de­spite an im­proved trade sur­plus, as a larger short­fall on the ser­vices, in­come and cur­rent trans­fer pay­ments weighed, the coun­try’s cen­tral bank said yes­ter­day.

The over­all first quar­ter deficit was two per cent and econ­o­mists sur­veyed by Reuters had ex­pected a sim­i­lar deficit for the sec­ond quar­ter.

The trade sur­plus widened to 65 bil­lion rand ($4.94 bil­lion) in the three months to end of June from 57 bil­lion rand in the prior quar­ter, the Re­serve Bank said in its Septem­ber quar­terly bul­letin. “Con­trary to the im­prove­ment in the trade bal­ance, the short­fall on the ser­vices, in­come and cur­rent trans­fer ac­count widened fur­ther in the sec­ond quar­ter,” the Re­serve Bank said.

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