South African Trade Deficit Expands

Bloomberg reported South Africa’s trade deficit grew unexpectedly in April on decreased export of precious metals, like platinum.

As quoted in the market news:

Impala Platinum Holdings Ltd. (IMP), the world’s second-largest platinum producer, on May 29 said output of the metal fell 46 percent because of a six-week strike. Last month’s decline in exports may widen the deficit in the current-account, the broadest measure of trade of goods and services, weakening the rand.

Click here to read the full Bloomberg report.