Reversal in Current Account Deficit Contraction

SOUTH AFRICA - Report 08 Dec 2015 by Iraj Abedian

Figures released by the South African Reserve Bank (SARB) on the balance of payments today show that the current account deteriorated in the third quarter of 2015, thereby reversing an improvement that had been taking place since the third quarter of 2014. The deficit on the current account balance increased from R124 billion to R165 billion from the second quarter of 2015 to the third quarter, and hence the seasonally adjusted and annualized deficit on the current account as a ratio of GDP rose from 3.1% to 4.1% during this period.

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