The current account balance in South Africa shifted to a surplus of ZAR 297.5 billion from an upwardly revised ZAR 123.7 billion in the previous period. It was the largest current account surplus since available records began in 1960, amid the resumption of trade following the easing of coronavirus restrictions. The goods surplus jumped to ZAR 454 billion from ZAR 71 billion in Q2, as exports increased substantially more than imports. Meantime, the deficit on the services, income and current transfer account narrowed to ZAR 156 billion from ZAR 195 billion in the prior quarter, due to a significantly smaller deficit on the income account and a slightly smaller services deficit. As a ratio of GDP, the current account balance reverted to a surplus of 5.9% in Q3 2020 from a deficit of 2.9% in Q2 2020. source: South African Reserve Bank
Current Account in South Africa averaged -30500.91 ZAR Million from 1960 until 2020, reaching an all time high of 297500 ZAR Million in the third quarter of 2020 and a record low of -246452 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 January of 2021.
Current Account in South Africa is expected to be 180000.00 ZAR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in South Africa to stand at -120000.00 in 12 months time. In the long-term, the South Africa Current Account is projected to trend around -65000.00 ZAR Million in 2021 and -95000.00 ZAR Million in 2022, according to our econometric models.