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Financial News: South Africa Current Account Surplus Rises In Q1

South Africa Current Account Surplus Rises In Q1

06/09/2022 - 08:52:00 (RTTNews)

(RTTNews) - South Africa's current account surplus increased in the first quarter on merchandise trade, data published by the South African Reserve Bank showed on Thursday.

The current account surplus widened to ZAR 143 billion from ZAR 132 billion in the fourth quarter of 2021.

As a ratio of gross domestic product, the current account surplus widened slightly to 2.2 percent from 2.1 percent in the preceding quarter.

As the value of merchandise and net gold exports grew to an all-time high, the trade surplus rose to ZAR 360 billion from ZAR 336 billion, data showed.

Meanwhile, the shortfall on the services, income and current transfer account widened to ZAR 217 billion from ZAR 204 billion in the fourth quarter.

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