The current account surplus in South Africa widened to ZAR 267.3 billion in the first quarter of 2021, from ZAR 197.8 billion in the previous 3-month period and compared with market expectations of a ZAR 182.1 billion surplus. It was the second-largest current account surplus since available records began in 1960. The goods surplus expanded to ZAR 430.5 billion from ZAR 425.2 billion in the last quarter, as exports rose to a new all-time high and imports increased slower. Also, the shortfall on the services, income and current transfer account narrowed to ZAR 163.1 billion from ZAR 227.4 billion, due to a noticeably smaller deficit of the income account, along with a softer decline in the services deficit, while net current transfer payments were little changed. As a ratio of GDP, the current account surplus rose to 5.0% in the quarter ended March of 2021 from 3.7% in the prior quarter. 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 July of 2021.
Current Account in South Africa is expected to be 165000.00 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 -60000.00 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 -140000.00 ZAR Million in 2023, according to our econometric models.