South Africa trade surplus soars to 13 billion rand

South Africa's trade surplus soared to 13.02 billion rand ($1.06 billion) in November, its highest in a one-and-a-half years as exports of mineral and chemical products as well as commodities and vehicles grew briskly while imports were subdued. It was a big jump in the surplus from 4.34 billion rand in October, according to revenue service data on Thursday, and well above market expectations of a modest 1.3 billion surplus in November - the 10th consecutive month in the black.
Exports in November expanded by 11.5 percent, with sales of precious stones and minerals up 21 percent, base metals rising 19 percent and vehicles and transportation equipment exports climbing 16 percent.