The country's trade deficit increased in October from R7.1 billion to R9.8 billion, the SA Revenue Service (SARS) said on Friday.

"October exports of R65.65bn and imports of R75.45bn resulted in a deficit of R9.8bn," SARS said in a statement.

In October, there had been a month-on-month increase in imports of mineral products, machinery, and precious metals and stones, and a month-on-month increase in exports of mineral products, vehicles, and precious metals and stones, SARS said.

However, the Nedbank Group's Economic Unit said that demand for imports was expected to fall off sharply next year.

"First, the continued slump in household spending will put downward pressure on demand for imported consumer goods," Nedbank said.

The rand's recent tumble would add to the cost of imported goods relative to locally produced items, making imported goods an even less attractive option.

"Second, imports of capital goods are also expected to moderate," Nedbank said.

Many mining and manufacturing companies have been forced to put expansion plans on hold, due to the anticipated drop in global demand and the steep decline in commodity prices, Nedbank added.

But growth in exports was also expected to slow next year.

"South African exporters are unlikely to escape the current global downturn although the weaker rand may help at the margin.

"Those that are likely to be worst affected are vehicle exporters, where consumer demand in advance economies has evaporated."

Nedbank said miners would take a double hit, due to sharply lower prices and weaker demand.