The Current Account Deficit Eases in Q4 2013

SOUTH AFRICA - Report 12 Mar 2014 by Iraj Abedian
According to the quarterly bulletin of the South African Reserve Bank (SARB), the current account balance was -R179 bn in Q4 2013 compared to -R216 bn the previous quarter. This translated into a moderated current account deficit as a percentage of gross domestic product (GDP) in the last quarter of 2013 (-5.1%, previously -6.4%). See Graph 1. Graph 1 Current account balance, South Africa 2010 Q1– 2013 Q4 Source: SARB SARB reported that the smaller current account deficit resulted from increased exports, as global trade gathered momentum in the last quarter of 2013. Further, a weak exchange...

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