Exports look set to boost struggling economy
By Dineo Faku
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THE surge in commodity prices has been an unexpected boost for the local economy with a rebound in global demand soaring.
Palladium, rhodium, iron ore, gold and coal prices this week saw the SA Revenue Service raking in a record R54.6bn trade surplus in May on the back of the commodity bull run.
President Cyril Ramaphosa this week said the surplus was primarily driven by minerals, precious metals and vehicle exports.
Ramaphosa said transport equipment, chemical products and agricultural products also contributed.
“High commodity prices and rising global demand is good for our economy, particularly the mining sector.
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