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South African Trade Balance Swings to Deficit in January

South Africa recorded its biggest trade deficit in a year in January as vehicle exports slumped.

The balance on the trade account swung to a shortfall of 13.1 billion rand ($939 million) from a revised surplus of 16.7 billion rand in December, the Pretoria-based South African Revenue Service said in an emailed statement Thursday. The median of eight economists’ estimates was for a gap of 14.5 billion rand.