Capeflats The Cape Flats Website
Cape Flats, Cape Town, South Africa
Main Navigation Menu
News
Property
Classifieds
Business

SA's deficit narrows

by BuaNews
on 22 Mar 2011
BuaNews Online
BuaNews Online

South Africa's current account deficit in the fourth quarter of 2010 narrowed to 0.6 percent of the Gross Domestic Product (GDP) since 2003, said the Reserve Bank on Tuesday.


"The balance on current account registered a significantly smaller deficit of R17.0 billion (or 0.6 percent) of GDP in the fourth quarter of 2010 - a similar magnitude was last recorded in the fourth quarter of 2003," said the bank in its Quarterly Bulletin on Tuesday.

The March bulletin comes as the Reserve Bank's Monetary Policy Committee meets this week to discuss rates.

The smaller deficit in the second half of 2010 also showed much reduced savings investment gap in the economy. This, said the bank, was indicative of the subdued pace of fixed capital formation and lower levels of imports.

Mining was boosted in the last quarter of 2010 due to the sustained economic recovery in emerging market economies and in advanced economies' higher demand for South African commodities. There was raised demand for South African produced coal as well as iron ore, while exports of vehicles, optical and professional equipment also rose. - BuaNews


Website Search

Search the Site

From our Business Directory
AKA Charters offer transport services for a wide range of users. Call them now on 0216334623 for information on buses, coaches, motor cars and help with your transport requirements.
Related Content