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Financial News: S. Africa's Current Account Surplus Declines In Q4

S. Africa's Current Account Surplus Declines In Q4

03/11/2021 - 07:08:00 (RTTNews)

(RTTNews) - South Africa's current account surplus declined in the fourth quarter, but was the second biggest on record, South African Reserve Bank said Thursday.

The current account surplus came in at ZAR 197.8 billion compared to ZAR 294.4 billion a quarter ago. This was the second highest ever recorded.

As a ratio of gross domestic product, the current account surplus narrowed to 3.7 percent in the fourth quarter from 5.9 percent a quarter ago.

On an annual basis, the ratio switched to a surplus of 2.2 percent in 2020 from a deficit of 3.0 percent in 2019.

The trade surplus narrowed somewhat to ZAR 425.2 billion in the fourth quarter from ZAR 450.9 billion in the preceding quarter.

At the same time, the shortfall on the services, income and current transfer account widened substantially to ZAR 227.4 billion from ZAR 156.4 billion.

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