The current account surplus in South Africa widened substantially to ZAR 343 billion, from a downwardly revised ZAR 261 billion in the first quarter and beating market expectations of ZAR 305 billion. It was the largest current account surplus since available records began in 1960. The goods surplus expanded to ZAR 613.6 billion from ZAR 450.8 billion in the last quarter, as exports grew to a new all-time high driven by shipments of metal and precious metals, while imports rose slower to its second highest level since the second quarter of 2019. Meanwhile, the shortfall on the services, income and current transfer account rose to ZAR 271 billion from ZAR 190 billion in the first quarter, due to a wider deficit of primary income, while net current transfer payments were little changed. As a ratio of GDP, the current account surplus rose to 5.6% in the quarter ended June of 2021 from 4.3% in the prior quarter. source: South African Reserve Bank
Current Account in South Africa averaged -26820.96 ZAR Million from 1960 until 2021, reaching an all time high of 342780 ZAR Million in the second quarter of 2021 and a record low of -241123 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 October of 2021.
Current Account in South Africa is expected to be 285000.00 ZAR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Current Account is projected to trend around -200000.00 ZAR Million in 2022 and -170000.00 ZAR Million in 2023, according to our econometric models.