SA records trade deficit in February

[newsroom]

Pretoria - South Africa recorded a trade deficit of R5.7 billion in February, the South African Revenue Service (SARS) said on Wednesday.

According to SARS, the deficit was due to an increase in imports of 14.96 percent and an increase in exports of 10.06 percent.

Exports for February 2010 of R40.26 billion and imports of R45.95 billion resulted in a deficit of R5.69 billion.

"The monthly trade deficit for February 2010 is R5.69 billion compared to a deficit of R0.57 billion in February 2009, an increase of R5.12 billion or 90% and the cumulative deficit for the year is R9.08 billion compared to R18.53 billion in 2009," said SARS.

South Africa registered a trade deficit of R3.3 billion in January. – BuaNews