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South Africa posts largest trade deficit in six months for Aug-2010

1-Oct-2010 1:14 PM

South African Revenue Service stated (30-Sep-2010) South Africa posted its largest trade deficit in six months in Aug-2010, after a rail accident disrupted iron ore exports. The shortfall was SAR4.7 billion (USD675 million), compared with a surplus of SAR2 billion in Jul-2010.  Meanwhile, imports declined 1.5% in the month, mainly due to a 27% slump in oil shipments, while exports decreased 13.4%.