South Africa posted a current account surplus of ZAR 50.2 billion in Q4 2025, compared to a revised deficit of ZAR 72 billion in the previous period. This marks the first surplus since Q3 2023 and the largest since Q1 2022, as the trade surplus widened sharply to ZAR 282.2 billion from ZAR 169 billion in Q3 on stronger exports and weaker imports. Meanwhile, the deficit on the services, income and current transfer account narrowed from to ZAR 232.1 billion from ZAR 241 billion in the previous quarter. Similarly, the current account balance shifted to a surplus of 0.6% of GDP in Q4 2025 from a 0.9% deficit in Q3. For the full year, the deficit shrank to ZAR 35.2 billion (0.5% of GDP) in 2025 from ZAR 48.0 billion (0.7% of GDP) in 2024. source: South African Reserve Bank

South Africa recorded a Current Account surplus of 50169 ZAR Million in the fourth quarter of 2025. Current Account in South Africa averaged -26523.35 ZAR Million from 1960 until 2025, reaching an all time high of 307426.00 ZAR Million in the second quarter of 2021 and a record low of -241123.00 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 March of 2026.

South Africa recorded a Current Account surplus of 50169 ZAR Million in the fourth quarter of 2025. Current Account in South Africa is expected to be -55000.00 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 -180000.00 ZAR Million in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-04 09:00 AM
Current Account
Q3 ZAR-57B ZAR-72.2B ZAR -32.0B
2026-03-12 09:00 AM
Current Account
Q4 ZAR50.2B ZAR-72B ZAR -30.0B
2026-06-11 09:00 AM
Current Account
Q1 ZAR50.2B ZAR -55B


Related Last Previous Unit Reference
Balance of Trade 9310.00 22380.00 ZAR Million Jan 2026
Current Account 50169.00 -72028.00 ZAR Million Dec 2025
Current Account to GDP -0.50 -0.70 percent of GDP Dec 2025
Exports 155789.54 164415.17 ZAR Million Jan 2026
External Debt 193047.00 180237.00 USD Million Sep 2025
Foreign Direct Investment -21000.00 -73452.00 ZAR Million Sep 2025
Imports 146475.16 141033.92 ZAR Million Jan 2026
Terms of Trade 117.20 110.80 points Dec 2025


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).
Actual Previous Highest Lowest Dates Unit Frequency
50169.00 -72028.00 307426.00 -241123.00 1960 - 2025 ZAR Million Quarterly
SA, Annualized

News Stream
South Africa Posts 1st Current Account Surplus Since 2023
South Africa posted a current account surplus of ZAR 50.2 billion in Q4 2025, compared to a revised deficit of ZAR 72 billion in the previous period. This marks the first surplus since Q3 2023 and the largest since Q1 2022, as the trade surplus widened sharply to ZAR 282.2 billion from ZAR 169 billion in Q3 on stronger exports and weaker imports. Meanwhile, the deficit on the services, income and current transfer account narrowed from to ZAR 232.1 billion from ZAR 241 billion in the previous quarter. Similarly, the current account balance shifted to a surplus of 0.6% of GDP in Q4 2025 from a 0.9% deficit in Q3. For the full year, the deficit shrank to ZAR 35.2 billion (0.5% of GDP) in 2025 from ZAR 48.0 billion (0.7% of GDP) in 2024.
2026-03-12
South Africa Current Account Gap Narrows in Q3
South Africa's current account deficit shrank to ZAR 57 billion in Q3 2025, from a revised ZAR 72.2 billion in the previous three-month period. The primary income account shortfall narrowed to ZAR 137 billion from ZAR 173 billion in Q2 and the secondary income gap was little changed at ZAR 29 billion. Meanwhile, the trade surplus shrank further to ZAR 178.3 billion from ZAR 187.2 billion in Q2, as the value of imports increased more than exports, with higher crude oil and refined fuel purchases weighing. At the same time, the services surplus fell to ZAR 109 billion from ZAR 129 billion. The current account deficit as a ratio of gross domestic product (GDP) narrowed to 0.7% in Q3 from a downwardly revised 1% in Q2 and below analysts' expectations of 1.3%.
2025-12-04
South Africa Current Account Gap Largest in 1-1/2-Years
South Africa's current account deficit widened to ZAR 82.8 billion in Q2 2025, from a revised ZAR 47.8 billion in the previous three-month period. It was the largest current account shortfall since Q4 2023, as the trade surplus narrowed further to ZAR 177.1 billion from ZAR 211.0 billion in Q1. At the same time, the deficit on the services, income, and current transfer account widened slightly to ZAR 259.9 billion from ZAR 258.9 billion, driven by a larger income account deficit, even as the deficits in the services and current transfer accounts narrowed. The current account deficit as a ratio of gross domestic product (GDP) widened to 1.1% in Q2 from an upwardly revised 0.6% in the preceding quarter and above analysts' expectations of 0.7%.
2025-09-11