The Current Account Deficit Expands In the Fourth Quarter of 2015, but Contracts Annually

SOUTH AFRICA - Report 08 Mar 2016 by Iraj Abedian

The balance of payments figures released by the South African Reserve Bank (SARB) show that South Africa’s current account balance shrunk further during the last quarter of 2015 to record a deficit of R208 billion on a seasonally adjusted, annualized basis, which translates into minus 5.1% of GDP. This followed a reversal in the contraction in the current account deficit as a percentage of GDP that started in the third quarter of 2015 when the current account deficit expanded to -4.3% of GDP (minus R172 billion) from -3.1% of GDP (minus R121 billion) during the second quarter and -5.0% of GDP (minus R196 billion) during the first quarter of 2015.

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