Cape Town — Heralding the New Year with good news for the country's trade balance, the South African Revenue Services (Sars) last week announced a narrowing of the gap between exports and imports for the month of November.
With exports for the month totalling R48.38 billion, and imports down to R48.99 billion, the deficit for last month amounted to only R0.61 billion, or R610 million. This was way down from the record monthly shortfall of R14.7 billion for October, and has gone a little way to allay worries over the country's current account deficit.
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