Earnings from gold exports contract 25% in 2016

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Johannesburg – Gold exports increased 175% in the fourth quarter of 2016, but declined 38.4% for the year.

This is according to the March Quarterly Bulletin released by the South African Reserve Bank (SARB) on Wednesday.

The central bank reported on Wednesday that the current account deficit contracted to 1.7% in the fourth quarter of 2016, this was partly driven by improved terms of trade as demand for domestically produced goods increased and as commodity prices surged.  

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