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.

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South Africa Current Account

Actual Previous Highest Lowest Dates Unit Frequency
197818.00 294446.00 294446.00 -246452.00 1960 - 2020 ZAR Million Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-07-02 09:00 AM Q1 ZAR69.7B ZAR-68.1B ZAR-34.9B ZAR -50B
2020-09-10 09:00 AM Q2 ZAR-103.6B ZAR63.4B ZAR-36.5B ZAR45B
2020-12-10 09:00 AM Q3 ZAR297.5B ZAR-123.7B ZAR -80B
2021-03-11 09:00 AM Q4 ZAR197.8B ZAR294.4B ZAR156.5B ZAR 180B
2021-06-10 09:00 AM Q1 ZAR197.8B
2021-09-09 09:00 AM Q2
2021-12-09 09:00 AM Q3
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
South Africa Current Account Surplus Narrows in Q4
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.
2021-03-11
South Africa Posts Widest Current Account Surplus on Record
The current account balance in South Africa shifted to a surplus of ZAR 297.5 billion from an upwardly revised ZAR 123.7 billion in the previous period. It was the largest current account surplus since available records began in 1960, amid the resumption of trade following the easing of coronavirus restrictions. The goods surplus jumped to ZAR 454 billion from ZAR 71 billion in Q2, as exports increased substantially more than imports. Meantime, the deficit on the services, income and current transfer account narrowed to ZAR 156 billion from ZAR 195 billion in the prior quarter, due to a significantly smaller deficit on the income account and a slightly smaller services deficit. As a ratio of GDP, the current account balance reverted to a surplus of 5.9% in Q3 2020 from a deficit of 2.9% in Q2 2020.
2020-12-10
South Africa Posts Current Account Gap in Q2
The current account balance in South Africa shifted to a deficit of ZAR 103.6 billion from a downwardly revised surplus of ZAR 63.4 billion and compared with market expectations of a ZAR 36.5 billion shortfall. The trade surplus narrowed to ZAR 92 billion from ZAR 202 billion, as exports fell substantially more than imports on the back of the global pandemic. In addition, the services deficit widened to ZAR 57 billion from ZAR 7 billion in Q1 of 2020 and the primary income also went up slightly to ZAR 103 billion from ZAR 96 billion. Meantime, the secondary income shortfall remained at ZAR 35 billion. As a ratio of GDP, the current account balance reverted to a deficit of 2.4% in Q2 2020 from a surplus of 1.1% in Q1 2020.
2020-09-10
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
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).