The Current Account Deficit Tapers Marginally

SOUTH AFRICA - Report 08 Dec 2014 by Iraj Abedian
According to official figures released today by the South African Reserve Bank (SARB), the deficit on the current account narrowed by R5 billion to register R230 billion in the third quarter of 2014 – see Table 1. Table 1 Balance of payments on current account, South Africa, 2013 Q3 – 2014 Q3Note: s.a.a = seasonally adjusted annualized Source: SARB. As a result, the ratio of the current account balance to the gross domestic product was -6% in Q3 2014 compared to -6.3% in Q2 2014 – see graph below. Graph 1 Current account balance, South Africa, 2010 Q1 – 2014 Q3 Notes: (1) The data is season...

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