South Africa Has Unexpected Trade Surplus on Car Exports
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South Africa posted a surprise trade surplus in November as car exports continued to rebound after strikes that halted production in August and September and oil imports fell.
The trade balance switched to a surplus of 770 million ($73 million) in November compared with a revised deficit of 11.8 billion rand in October, the Pretoria-based South African Revenue Service said in a e-mailed statement today. The median estimate of eight economists surveyed by Bloomberg was for a deficit of 9.4 billion rand.