More positive economic metrics out of South Africa as the deficit on the current account narrows to 2.5% of GDP in 2017

SOUTH AFRICA - Report 20 Mar 2018 by Iraj Abedian

Following the notable widening in the seasonally adjusted and annualized trade surplus to R92 billion during the third quarter of 2017, the trade balance narrowed to (a still substantial) R74 billion in the last quarter of 2017 as reported by the SA Reserve Bank. This was a result of a more pronounced rise in merchandise imports than in merchandise exports during the period. Because of this, and a further widening of the shortfall on the services, income and current transfer account, the deficit on the current account balance of the balance of payments widened from R99 billion in the third quarter to R137 billion in the fourth quarter. Therefore, as a ratio of GDP, the current account deficit widened from revised 2.1% (previously 2.3%) to 2.9%.

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