South African exports soar

South Africa's trade surplus in February surged by 4bn rand (£240m) as its weak currency continued to boosted exports and kept the cost of imports high.

The South African Revenue Service (SARS) said exports jumped by 10% while imports dropped 7.8%, pushing the surplus up to 4.3bn rand from 313m in January.

The soaring exports come despite the rand clawing back some 18% of its value since hitting a historic low to the dollar in late December.

South Africa's currency, which fell 34% last year, has help exporters further penetrate their markets despite the still weak global economy.

While exporters have benefited, importers and their customers are expected to continue to feel the pinch of higher costs.

Last month the Reservel Bank raised interest rates to offset the weakness of the rand.