South Africa’s Records FDI Inflows of 11.7 Billion Rand in Q1

South Africa’s Records FDI Inflows of 11.7 Billion Rand in Q1

1 July 2019 – South Africa’s foreign direct investment swung to inflows in the first quarter from outflows in the final quarter of last year as domestic private firms received equity and debt funding from foreign parent companies, the central bank said on Thursday.

Foreign direct investment inflows totalled 11.7 billion rand ($825.85 million) in the first three months of 2019 from outflows of 8.2 billion rand in the previous quarter, the South African Reserve Bank (SARB) said in its Quarterly Bulletin.

The country registered portfolio investment inflows of 29.2 billion rand from January to March from outflows of 33.9 billion rand in the prior quarter as foreigners’ acquisition of domestic debt securities exceeded net sales of local equities, the SARB said. 

The country also recorded a 1.74 billion-rand ($123 million) trade surplus in May after a revised 3.53 billion rand deficit in April, data from the revenue service showed on Friday.

Exports rose 8.1% on a month-on-month basis to 112.1 billion rand in May, while imports climbed 3% to 110.3 billion rand, the SARB added. Source (Reuters) https://bit.ly/2J0j0vW