South Africa records its seventh consecutive current account surplus during Q1-2022

SOUTH AFRICA - Report 10 Jun 2022 by Iraj Abedian

The latest current account data released by the South African Reserve Bank shows that, during the first quarter of 2022, South Africa’s current account recorded its eighth surplus since the first quarter of 2020 (with a deficit having been recorded only during Q2 2020). The Q1-2022 surplus, widened from R132 billion in the fourth quarter of 2021 to R143 billion. Relative to GDP, the current account surplus widened marginally, from 2.1% in the fourth quarter of 2021 to 2.2% in the first quarter of 2022.

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