S.Africa posts April trade deficit, exports drop 14 pct
S.A's trade account ended in deficit in April 2010, due to a sharp drop in exports (likely caused by strikes in the transport sector) and lower export demands in the global economy. Economists were expecting around a R2 Billion dedicit. In March the trade balance account had a surpluss of R460 million. Imports fell 9.83 percent to 46.06 billion rand in April.
Analysts say SA's trade account is set to continue in deficit until the 3rd quater of this year due to imports outwieghing imports.
The rand lost ground again to US$ at noon today trading at R7.68 to the US$.
