$ = R 7.95
£ = R 12.66
€ = R 11.06
Oil = $ 110.77
Gold = $ 1720.75
Last Update:
21:34 26 Oct 11
SPONSORED LINKS ›
Cars Online
Property Search
Online Dating
Local sleepovers
Book flights online!
Work money smarter
Wine of the Week
Win the Lottery
Go shopping!
Trade deficit drops
Fri, 31 Oct 2008 12:00
South Africa recorded a deficit of R7.112-billion for its trade with non-Southern African Customs Union trading partners in September after the R5.123-billion deficit in August, according to Customs & Excise figures released on Friday.
These numbers follow from the large R14.3-billion deficit in July.
A R4.5-billion deficit was expected, a survey by I-Net Bridge had
found. Forecasts varied from a R3.0-billion deficit to a R5.8-billion
rand deficit.
Economists react to the trade figures:
Neville Pretorius, T-Sec:
"It's more then we thought, but the important one will be next month
(October), because it will be interesting to see what the weakness in the
rand has done for the trade figures."
Chris Hart, Investment Solutions:
"It's disappointing. Given that we've had lower oil prices and the
weakening currency, one would have thought it would narrow under the
circumstances. The impact of the falling platinum price should also be taken
into consideration."
Fanie Joubert, Efficient Group:
"The figure is large, larger than we had expected. It's a big worry that
the figure is so high. It will continue to put pressure on the current
account deficit.
"At this stage, with the rand under so much pressure, it's not good
news. It could put more pressure on the rand."