South Africa posted a current account deficit of ZAR 87 billion in the Q2 of 2022, compared with a surplus of ZAR 157 billion in the Q1 and defying market estimates of a ZAR 100 billion surplus. It was the first current account shortfall since the second quarter of 2020, as the goods surplus shrank to ZAR 272 billion from ZAR 372 billion in Q1, reflecting a larger increase in the value of merchandise imports than in the value of goods exports, both at record levels. Meanwhile, the shortfall on the services, income and current transfer account rose to ZAR 358 billion from ZAR 216 billion, as the deficit on the primary income account rose sharply, largely due to higher dividend payments by companies with a direct investment relationship, along with a slight increase in the deficit on the services account and a smaller deficit on the secondary income account. As a ratio of GDP, the current account balance switched to a deficit of 1.3% in Q2 from a surplus of 2.4% in the first quarter. source: South African Reserve Bank

Current Account in South Africa averaged -24857.58 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 October of 2022.

Current Account in South Africa is expected to be -120000.00 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 170000.00 ZAR Million in 2023 and -210000.00 ZAR Million in 2024, according to our econometric models.

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South Africa Current Account



Calendar GMT Actual Previous Consensus TEForecast
2022-06-09 09:00 AM Q1 ZAR143B ZAR132B ZAR105B ZAR 150B
2022-09-08 09:00 AM Q2 ZAR-87B ZAR157B ZAR100B ZAR115B
2022-12-08 09:00 AM Q3 ZAR-87B ZAR-120B


Related Last Previous Unit Reference
Current Account -86588.00 156742.00 ZAR Million Jun 2022
Current Account to GDP 3.70 2.00 percent of GDP Dec 2021
External Debt 169320.00 173837.00 USD Million Jun 2022
Terms of Trade 117.00 116.60 points Jun 2022
Foreign Direct Investment 26229.00 39899.00 ZAR Billion Jun 2022

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
-86588.00 156742.00 295546.00 -241123.00 1960 - 2022 ZAR Million Quarterly
SA

News Stream
South Africa Posts Surprise Current Account Gap in Q2
South Africa posted a current account deficit of ZAR 87 billion in the Q2 of 2022, compared with a surplus of ZAR 157 billion in the Q1 and defying market estimates of a ZAR 100 billion surplus. It was the first current account shortfall since the second quarter of 2020, as the goods surplus shrank to ZAR 272 billion from ZAR 372 billion in Q1, reflecting a larger increase in the value of merchandise imports than in the value of goods exports, both at record levels. Meanwhile, the shortfall on the services, income and current transfer account rose to ZAR 358 billion from ZAR 216 billion, as the deficit on the primary income account rose sharply, largely due to higher dividend payments by companies with a direct investment relationship, along with a slight increase in the deficit on the services account and a smaller deficit on the secondary income account. As a ratio of GDP, the current account balance switched to a deficit of 1.3% in Q2 from a surplus of 2.4% in the first quarter.
2022-09-08
South Africa Current Account Surplus Widens in Q1
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.
2022-06-09
South Africa Current Account Surplus Smaller than Expected
The current account surplus in South Africa shrank to ZAR 120 billion in the fourth quarter of 2021, from a downwardly revised ZAR 216 billion in the third quarter and below market expectations of ZAR 150 billion. It was the smallest current account surplus since a shortfall was recorded in the second quarter of 2020, as the goods surplus narrowed to ZAR 324 billion from ZAR 439 billion in the previous quarter, with imports rising faster than exports. Meanwhile, the shortfall on the services, income and current transfer account fell to ZAR 204 billion from ZAR 222 billion in the third quarter. As a ratio of GDP, the current account surplus narrowed to 1.9% in the fourth quarter of 2021 from 3.5% in the preceding quarter while increasing on an annual basis to 3.7% in 2021 from 2.0% in 2020. The current account surplus more than doubled to ZAR 227 billion in 2021, the largest on record.
2022-03-10