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Financial News: South Africa Current Account Surplus Falls In Q3

South Africa Current Account Surplus Falls In Q3

12/09/2021 - 05:40:00 (RTTNews)

(RTTNews) - South Africa's current account surplus declined in the third quarter, the South African Reserve Bank said on Thursday.

The current account of the balance of payments showed a surplus of ZAR 226 billion versus ZAR 311 billion in the second quarter.

As a ratio of gross domestic product, the current account surplus narrowed to 3.6 percent in the third quarter from 5.1 percent in the preceding quarter.

The trade surplus narrowed noticeably to ZAR 455 billion from ZAR 582 billion in the second quarter.

At the same time, the shortfall on the services, income and current transfer account decreased to ZAR 228 billion from ZAR 271 billion in the second quarter. Relative to GDP, the deficit narrowed to 3.7 percent from 4.4 percent.

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