The current account surplus in South Africa rose to ZAR 143 billion in the first quarter of 2022, from an upwardly revised ZAR 132 billion in the fourth quarter and better than market expectations of ZAR 105 billion. The goods surplus widened to ZAR 360 billion from ZAR 336 billion in the previous period, reflecting a larger increase in the value of merchandise and net gold exports than in the value of merchandise imports, although both at record levels. Meanwhile, the shortfall on the services, income and current transfer account rose to ZAR 217 billion from ZAR 204 billion, as larger deficits on the services and secondary income accounts outweighed a smaller deficit on the primary income account. As a ratio of GDP, the current account surplus rose slightly to 2.2% in the fourth quarter of 2021 from 2.1% in the final quarter of 2021. source: South African Reserve Bank
Current Account in South Africa averaged -24666.34 ZAR Million from 1960 until 2022, reaching an all time high of 295546 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 July of 2022.
Current Account in South Africa is expected to be 115000.00 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 2023 and -210000.00 ZAR Million in 2024, according to our econometric models.