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.


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South Africa Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-190312.00 -208656.00 15627.00 -246452.00 1960 - 2019 ZAR Million Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2019-03-07 09:00 AM Q4 ZAR-110.2B ZAR-180.4B ZAR-162.5B ZAR -93B
2019-06-06 09:00 AM Q1 ZAR-142.5B ZAR-110.2B ZAR-154.5B ZAR -140B
2019-09-05 09:00 AM Q2 ZAR-204.1B ZAR-143.5B ZAR-134.5B ZAR -120B
2019-12-05 09:00 AM Q3 ZAR-190.3B ZAR-208.7B ZAR-160.8B ZAR -180B
2020-03-05 09:00 AM Q4 ZAR-190.3B ZAR -115B
2020-06-04 09:00 AM Q1 ZAR -138B
2020-09-03 09:00 AM Q2 ZAR -220B
2020-12-03 09:00 AM Q3 ZAR -180B


News Stream
South Africa Current Account Deficit Narrows in Q3
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.
2019-12-05
South Africa Current Account Gap Widest in Over a Year
South Africa's current account deficit rose to ZAR 204.1 billion in the second quarter of 2019 from an upwardly revised ZAR 143.5 billion in the previous period and compared with market expectations of a ZAR 134.5 billion shortfall. This was the largest current account gap since the first quarter of 2018, as the goods trade balance switched to a ZAR 27 billion deficit from a ZAR 42 billion surplus in Q1. Meanwhile, the shortfall on services, income and current transfer payments decreased slightly to ZAR 177 billion from ZAR 185 billion, due to smaller deficits on the income and current transfer accounts, which partially countered a slightly larger deficit on the services account. As a ratio of GDP, the current account deficit deteriorated to 4.0 percent in the second quarter of 2019 from 2.9 percent in the first quarter.
2019-09-05
South Africa Current Account Gap Widens in Q1
The current account deficit in South Africa rose to ZAR 142.5 billion in the first quarter of 2019 from ZAR 110.2 billion in the previous period and compared with market expectations of a ZAR 154.5 billion shortfall. It is equivalent to 2.9 percent of the GDP, and means a deterioration compared to 2.2 percent in Q4 2018. The goods surplus narrowed to ZAR 43.0 billion from ZAR 71.8 billion in Q4 2018; and the services shortfall rose only slightly to ZAR 12 billion from ZAR 11 billion in the previous quarter. Meantime, the primary income gap narrowed a bit to ZAR 137 billion from ZAR 138 billion; and the secondary income deficit went up to ZAR 36 billion from ZAR 33 billion in Q4 2018.
2019-06-06
South Africa Current Account Gap Narrows in Q4
The current account deficit in South Africa narrowed to ZAR 110.2 billion in the fourth quarter of 2018 from an upwardly revised ZAR 180.4 billion in the previous period and compared with market expectations of a ZAR 162.5 billion shortfall. It is the equivalent to 2.2 percent of the GDP, compared to 3.7 percent in the prior quarter. The goods and services balance shifted to a ZAR 61 billion surplus from ZAR 1 billion gap in the third quarter of the year. Also, the primary income deficit declined to ZAR 138 billion from ZAR 150 billion. Meanwhile, the secondary income gap increased slightly to ZAR 33 billion from ZAR 30 billion. In 2018, the current account shortfall widened to ZAR 173 billion from ZAR 118 billion in 2017. It is the equivalent to 3.5 percent of the GDP in 2018, compared to 2.5 percent in 2017.
2019-03-07

South Africa Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).