Wednesday, March 12, 2014

South Africa's current account deficit decreases as imports drops

South Africa's current account deficit decreased more than expected in the final quarter of 2013. This was due to the fact that exports outpaced imports to reduce the shortfall on the trade account in Africa's biggest economy. In its latest Quarterly Bulletin, released on Wednesday, the South African Reserve Bank (SARB) said the current account deficit stood at 5.1 percent of gross domestic product, its lowest since the start of 2012, when the shortfall was 3.9 percent.

The figure

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