Trade boosts current account balance in the third quarter of 2020

SOUTH AFRICA - Report 11 Dec 2020 by Iraj Abedian

South Africa’s (SA) current account recorded a surplus of R297.5bn or 5.9% of gross domestic product (GDP) in the three months ending September 2020. In Q2-2020, the figure was a deficit of R123.7bn or -2.9% (revised from -R104.bn or -2.4%) of GDP. This implies that for the first 9 months of 2020, the current account balance has averaged 1.4% of GDP, compared to -2.6% of GDP in the 9 months of 2019.

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