The deficit on South Africa’s current account narrows in Q4 2019 and for 2019 as a whole

SOUTH AFRICA - Report 05 Mar 2020 by Iraj Abedian

Current account data released today by the South African Reserve Bank indicates that South Africa’s current account deficit narrowed by R120 billion during the fourth quarter of 2019, falling from R188 billion in the third quarter to R68 billion. As a ratio of GDP, the current account deficit further improved from 3.7% during the third quarter to 1.3% in the last quarter of 2019. Similarly, on an annual basis, the current account deficit narrowed from 3.5% of GDP in 2018 to 3% of GDP in 2019.

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