The Current Account Deficit Contracts in 2016

SOUTH AFRICA - Report 22 Mar 2017 by Iraj Abedian

Following an increase during the third quarter of 2016 (to 3.8% of GDP), the deficit on the current account narrowed markedly during the fourth quarter of 2016 to register 1.7% of GDP. In a similar manner, the current account deficit for 2016 as a whole declined to 3.3% of GDP from 4.4% of GDP in 2015, continuing its declining trend since 2014. It recorded 5.9% in 2013, then 5.3% and 4.4% in 2014 and 2015, respectively. See Graph 1 and Table 1.

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