South Africa: Iron Ore, Coal Surges

Bloomberg reported South Africa’s trade deficit narrowed for a second month in March as coal and iron ore exports to Asia surged, the South African Revenue Service said.

As quoted in the market news:

The shortfall eased to 5.5 billion rand ($710 million) from 7.5 billion rand in February, the Pretoria-based South African Revenue Service said in an e-mailed statement today. The median estimate of eight economists in a Bloomberg survey was for a deficit of 5 billion rand.

Click here to read the full Bloomberg report.