JOHANNESBURG, Jan 31: South Africa’s trade deficit narrowed last month to nine billion rand ($881 million, 687 million euros), official figures showed on Friday as imports slowed due to an economic downturn.

The South African Revenue Service (SARS) said in a statement that the narrowing of the trade deficit was also due to “a month-on-month increase in exports of precious metals and stones, and vegetable production.” Figures for December showed the month-on-month trade deficit went from 12.1 billion rand in November to 9 billion rand, the revenue service said.

Year-on-year figures, meanwhile, showed 34 per cent growth in the deficit over 2008 from 69.9 billion rand in 2007 to 88 billion rand by December 2008.—AFP