The current account surplus in South Africa fell to ZAR 197.8 billion from a downwardly revised ZAR 294.4 billion in the previous period and compared with market expectations of a ZAR 156.5 billion surplus. Still, it was the second-largest current account surplus since available records began in 1960. The goods surplus narrowed to ZAR 425.2 billion from ZAR 450.9 billion in Q3, as imports increased more than exports. Meantime, the shortfall on the services, income and current transfer account increased to ZAR 227.4 billion from ZAR 156.4 billion, due to a noticeably larger shortfall on the income account, while the services deficit decreased somewhat along with a further increase in net current transfer payments. As a ratio of GDP, the current account surplus narrowed to 3.7% in the fourth quarter of 2020 from 5.9% in the third quarter. In 2020, the country's current account shifted to a surplus of ZAR 108 billion compared to a deficit of ZAR 153 billion a year earlier. source: South African Reserve Bank
Current Account in South Africa averaged -29656.80 ZAR Million from 1960 until 2020, reaching an all time high of 294446 ZAR Million in the third 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 May of 2021.
Current Account in South Africa is expected to be 100000.00 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 -100000.00 ZAR Million in 2022 and -85000.00 ZAR Million in 2023, according to our econometric models.