The balance on the current account in South Africa swung to a deficit of 0.5% of GDP, or ZAR 31.8 billion in 2022, from a surplus of 3.7% of GDP, or ZAR 228 billion in 2021. It marks the first annual shortfall since 2019, as recurrent power shortages and logistics network constraints curbed exports, while imports advanced. source: South African Reserve Bank
Current Account to GDP in South Africa averaged -1.47 percent of GDP from 1963 until 2022, reaching an all time high of 6.00 percent of GDP in 1987 and a record low of -7.50 percent of GDP in 1971. This page provides - South Africa Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa Current Account to GDP - values, historical data and charts - was last updated on March of 2023.
Current Account to GDP in South Africa is expected to reach -1.70 percent of GDP by the end of 2023, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Current Account to GDP is projected to trend around -1.80 percent of GDP in 2024, according to our econometric models.