South Africa’s trade balance swings to R35bn deficit in April

South Africa’s trade balance recorded a deficit of R35.02 billion ($2.01 billion) in April from a revised surplus of R23.94 billion in March, data from the revenue service showed on Friday.

Exports fell 55.1% on a month-on-month basis to R53.02 billion, while imports were down 6.5% to R88.03 billion, the South African Revenue Service said.

Africa’s most industrialised economy has been under lockdown since the end of March to curb the spread of the novel coronavirus — one of the world’s strictest COVID-19 lockdowns.

The government has allowed the re-opening of some sectors of the economy, but South African borders remain closed except for the transportation of goods, repatriation of South Africans and evacuation of foreign nationals.