BRIAN KANTOR: The dark side of the improved balance of payments
Capital expenditure trends imply slow growth that will continue to threaten the government’s ability to raise revenues
29 September 2022 - 14:13
The Covid lockdown dramatically altered the relationship between SA and its global trading and financial partners. What followed was a dramatic improvement in the balance between exports and imports.
After 2020 exports, helped by higher prices, grew faster than imports, taking the balance of trade to almost 10% of GDP by the second quarter of 2021. As export prices have fallen off more recently the trade surplus has declined to a still impressive 4.8% of GDP...
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