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Africa, Forex

South Africa’s trade balance swings to a surplus in May

JOHANNESBURG (Reuters) – South Africa’s trade balance swung to a surplus of 15.94 billion rand ($918.20 million) in May from a revised deficit of 35.95 billion rand in April, data from the revenue service showed on Tuesday.

Exports jumped 96.1% on a month-on-month basis to 101.85 billion rand, while imports were down 2.2% to 85.91 billion rand, the South African Revenue Service said.

A strict coronavirus lockdown from late March has been partially eased to allow key sectors like mining to resume operations.

($1 = 17.3601 rand)

(Reporting by Olivia Kumwenda-Mtambo; Editing by Alexander Winning)

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