South Africa’s Trade Balance Takes 18% Dip in July

Data from South Africa’s revenue service on Monday has shown that the country’s trade balance narrowed to 37.42 billion rand ($2.24 bln) in July. This is an 18% drop compared to a revised surplus of 45.73 billion rand in June.

The figures from the South African Revenue Service showed exports rose 6.1% month-on-month to 122.49 billion rand. Similarly, imports were up 22.1% to 85.07 billion rand.

The country has been on a whirlwind over the last year following a steady streak in 2018

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