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Macro Update - Trade deficit improves


30 Dec 2011

The trade deficit improved strongly. December’s trade deficit was the lowest we have seen since December 2006. This month’s trade deficit is estimated at USD700mn, a sharp improvement from December 2010’s USD1,286mn. For the full year, the trade deficit is estimated at USD9.5 billion down c.25% compared to last year’s USD12.6 billion. Excluding gold transactions in both years, the trade deficit would have improved by c.30% from USD14.2bn in 2010 to USD10 billion this year. The trend can also b

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