Trade statistics released by the South African Revenue Service (Sars) reveal a welcome drop in the deficit from R1.89bn in April to R300m in May. A 6.8% increase in exports and a 3.1% increase in imports contributed to the improved figure. Exports increased by R3.01 billion (6.8%) to R47.18 billion and imports by R1.42 billion (3.1%) to R47.48 billion. This year’s R0.30 billion deficit compares to a surplus of R300 million in May 2009. The cumulative deficit for the year to date is R12.42 billion compared to R19.82 billion in 2009.
