Vangate Mall
You are Here: News -> SA's deficit narrows

SA's deficit narrows

Return to previous page.

SA's deficit narrows

by BuaNews
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

Return to previous page.

From our Directory

Do you need professional assistance in taxation matters? Ascend Business Solutions in Lansdowne are professional Accountants and Business Consultants with expertise in the SMME sector. Give them a call on 021-6747690


DT Corporate House is a specialist supplier of branded corporate and promotional wear. If you need your company logo printed on any clothing call them now on 0216373661. Perfect for corporate gifts!


Are you planning to build a new home? Renovating your old house? If you need a professional Architectural Draughtsman to draw up your plans, call Christo Appel Architectural Designs now on 021-6960460.



Contact Us | About athlone.co.za | Copyright | Advertising | Disclaimer

Website Design by BMSC-Online
XHTML CSS