The Current Account Deficit Continues to Contract

SOUTH AFRICA - Report 15 Sep 2015 by Iraj Abedian

The seasonally adjusted annualized current account balance posted a figure of minus R124 billion, bringing the current account balance as a percentage of GDP to -3.1% in Q2 2015. This represents a contraction in the current account deficit as a percentage of GDP from -4.7% in Q1 2015. This contraction in the deficit of the current account balance follows a trend that has been taking place since Q3 2014, making Q2 2015 the fourth consecutive quarter in which the balance on the current account has been improving. (See Graph 1).

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