South Africa’s current account balance records an annual surplus for the first time in 20 years

SOUTH AFRICA - Report 12 Mar 2021 by Iraj Abedian

The current account data released today by the South African Reserve Bank shows that South Africa’s current account recorded another considerable surplus during the fourth quarter of 2020. Still, the surplus narrowed from R294.4 billion in the third quarter to R197.8 billion, making it the second largest surplus ever recorded in the country. As a ratio of GDP, the current account surplus thus narrowed from 5.9% during the third quarter to 3.7% in the fourth quarter of 2020. On an annual basis, the current account balance switched from a deficit of 3.0% of GDP in 2019 to a surplus of 2.2% of GDP in 2020.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.