The current account balance shifted to a surplus of ZAR 69.7 billion in Q1 2020 from a deficit of ZAR 68.1 billion in the previous period and beating market expectations of a ZAR 34.9 gap. It was the first current account surplus since Q1 2003, as the trade surplus more than doubled to ZAR 208 billion from ZAR 102.5 billion, due to a rise in exports value amid increases in prices and volumes, while lower volumes weighed down the value of imported goods. That said, the effects of the Covid-19 pandemic on South Africa’s imports and exports were still limited in Q1 2020, with the domestic lockdown restrictions only effective as from late March. Meantime, the deficit on the services, income and current transfer account narrowed substantially to ZAR 138.2 billion Q1 2020 from ZAR 170.6 billion in the prior quarter, primarily due to a smaller income shortfall. As a ratio of GDP, the current account balance swung to a surplus of 1.3% in Q1 2020 from a gap of 1.3% in Q4 2019.

Current Account in South Africa averaged -31532.80 ZAR Million from 1960 until 2020, reaching an all time high of 69700 ZAR Million in the first quarter of 2020 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. South Africa Current Account - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. 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 -210000.00 in 12 months time. In the long-term, the South Africa Current Account is projected to trend around -145000.00 ZAR Million in 2021 and -160000.00 ZAR Million in 2022, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
South Africa Current Account

Actual Previous Highest Lowest Dates Unit Frequency
69700.00 -68100.00 69700.00 -246452.00 1960 - 2020 ZAR Million Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
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-68.1B ZAR-188.1B ZAR-158B ZAR -115B
2020-07-02 09:00 AM Q1 ZAR69.7B ZAR-68.1B ZAR-34.9B ZAR -50B
2020-09-03 09:00 AM Q2 ZAR69.7B ZAR -120B
2020-12-03 09:00 AM Q3 ZAR -185B


News Stream
South Africa Posts 1st Current Account Surplus since 2003
The current account balance shifted to a surplus of ZAR 69.7 billion in Q1 2020 from a deficit of ZAR 68.1 billion in the previous period and beating market expectations of a ZAR 34.9 gap. It was the first current account surplus since Q1 2003, as the trade surplus more than doubled to ZAR 208 billion from ZAR 102.5 billion, due to a rise in exports value amid increases in prices and volumes, while lower volumes weighed down the value of imported goods. That said, the effects of the Covid-19 pandemic on South Africa’s imports and exports were still limited in Q1 2020, with the domestic lockdown restrictions only effective as from late March. Meantime, the deficit on the services, income and current transfer account narrowed substantially to ZAR 138.2 billion Q1 2020 from ZAR 170.6 billion in the prior quarter, primarily due to a smaller income shortfall. As a ratio of GDP, the current account balance swung to a surplus of 1.3% in Q1 2020 from a gap of 1.3% in Q4 2019.
2020-07-02
South Africa Current Account Gap Lowest in Near 9 Years
The current account deficit in South Africa narrowed to ZAR 68.1 billion in Q4 2019 from a downwardly revised ZAR 188.1 billion in Q3 and well below market expectations of a ZAR 158 billion. It is the lowest current account gap since the Q2 2011, as the trade surplus widened substantially to ZAR 102.5 billion from ZAR 44 billion, due to a rise in exports value amid increases in prices and volumes, while lower volumes weighed down the value of imported goods. The gap on the services, income and current transfer account also fell to ZAR 170.6 billion from an all-time high of ZAR 232.1 billion, due to a noticeable improvement in the income shortfall, whereas the deficit on the services account widened somewhat and that of the current transfer account only increased marginally. Considering full 2019, the country recorded a current account deficit to ZAR 153 billion or 3 percent of the GDP, below ZAR 173 billion or 3.5 percent of the GDP in 2018.
2020-03-05
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
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).