South Africa's current account deficit narrowed to ZAR 190.3 billion in the third quarter of 2019 from an upwardly revised ZAR 208.7 billion in the previous period and compared with market expectations of a ZAR 160.8 billion gap. The goods trade balance switched to a ZAR 41.1 billion surplus from a ZAR 31.8 billion shortfall in the second quarter of the year. On the other hand, the shortfall on services, income and current transfer payments widened to ZAR 231.4 billion from ZAR 176.9 billion, driven by a larger deficit on the income account while the services account gap decreased and that on the current transfer account remained broadly unchanged.
Current Account in South Africa averaged -31794.44 ZAR Million from 1960 until 2019, reaching an all time high of 15627 ZAR Million in the fourth quarter of 2002 and a record low of -246452 ZAR Million in the third quarter of 2013. This page provides the latest reported value for - South Africa Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: South African Reserve Bank
Current Account in South Africa is expected to be -170000.00 ZAR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in South Africa to stand at -120000.00 in 12 months time. In the long-term, the South Africa Current Account is projected to trend around -125000.00 ZAR Million in 2021 and -140000.00 ZAR Million in 2022, according to our econometric models.