Johannesburg‚ Dec 28 (I-Net Bridge) - The deficit on SA's trade account continued to deteriorate in November‚ with the account recording its 11th consecutive deficit for trade with non-Southern African Customs Union (non-SACU) trading partners.
A R7.9bn deficit was recorded in November‚ following a R21.2bn deficit in October‚ SARS customs and excise figures released on Friday showed.
The trade account has been in deficit since the beginning of this year‚ showing the extent to which exports are being effected by the global economic slowdown. The weaker rand has also been making imports much more expensive.
The cumulative deficit for the year to date is R112.7bn compared to a cumulative deficit of just R18.4bn in 2011.