SA economy recorded a trade surplus of R4.42bn in June | IOL Business Report

  • 📰 IOL
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

SA economy recorded a trade surplus of R4.42bn in June

JOHANNESBURG - A sense of optimism temporarily washed over the South African economy this afternoon after the nation recorded a trade surplus of R4.42 billion in June.

The nation achieved a trading surplus for the second consecutive month suggesting that there is demand for South African exports. However, both exports and imports declined in June with the 5.8% drop in imports caused by weak domestic growth. With exports dropping by 3.2% month-over-month amid slowing global growth, this is negative for South Africa, especially when factoring how exports account for approximately 30% of GDP.

The Rand’s muted reaction to the balance of trade figures suggests that the local currency is more concerned with external drivers. With the Federal Reserve expected to cut interest rates for the first time in over 10 years on Wednesday, the Rand like many other emerging market currencies could remain on standby until the rate decision and Jerome Powell’s post-meeting press conference.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 46. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

So bafuna ukuqeda le surplus ke ngalo Eskom.

cc MthuliNcube MoeChanda GGuvamatanga InfoMinZW nickmangwana

Filling a bucket with holes with an eyedropper.

InuWolfie what does this mean?

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Future of coal industry in SA is bright – Minerals Council SA'The coal sector remains key to the country’s development and industrialisation,' Minerals Council spokesperson Charmaine Russell said.
Source: TheCitizen_News - 🏆 6. / 75 Read more »