South Africa's trade gap narrows

South Africa recorded a trade deficit of 2.74 billion rand ($526 million) in March, virtually unchanged from the shortfall in February, the South African Revenue Service said.

The figure, below the 4.1 billion rand deficit forecast in a Reuters poll of economists, confirms a trend of relatively small deficits in the wake of January's 11.7 billion rand shortfall and record deficits in the second half of 2006.

Exports rose by 13.59 per cent month-on-month largely due to increases in exports of semi-precious and precious stones and metals.

Imports were up 12.88 per cent.

- AGENCIES