Falling commodity export prices bode ill for SA’s terms of trade
Coal, iron ore and palladium are down sharply in the quarter to date, according to Absa, and could see SA post its first merchandise trade deficit since April 2020
09 November 2022 - 18:43
SA’s commodity export prices are down sharply in the fourth quarter to date, driven by steep declines in coal, iron ore and palladium, an ominous sign for the country’s already weak terms of trade in 2022 amid high energy prices, shortages of materials, and recession fears.
According to a research note published by Absa on Wednesday, prices for shipments of commodities from October 1 to November 8 are 13.8% lower than the three months to end-September, and on average 4.6% weaker than the same period a year earlier...
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