South Africa’s current account deficit narrowed to 3.1% of gross domestic product (GDP) in the second quarter of this year. “The deficit on the current account of the balance of payments narrowed significantly to 3.1% of GDP in the second quarter of 2016,” said the South African Reserve Bank (SARB). The bank released its September Quarterly Bulletin on Tuesday. The 3.1% current account deficit comes after a revised deficit of 5.3% in the first quarter of 2016. Market expectation was for … [Read more...] about Current Account Deficit Falls
current account
Current Account Deficit Narrows
South Africa's current account deficit narrowed marginally in the third quarter, said the Reserve Bank. In its December Quarterly Bulletin released on Monday, the bank said that the current account deficit narrowed to a seasonally adjusted and annualised R230 billion in the third quarter from R235 billion in the second quarter of 2014. The shortfall in the current account balance narrowed to 6% of Gross Domestic Product (GDP) in the third quarter of the year from a revised shortfall of … [Read more...] about Current Account Deficit Narrows
Weak job market contributes to widening of current account
South Africa's current account deficit widened to 6.2% of Gross Domestic Product (GDP) in the second quarter of 2014. In its September Quarterly Bulletin, the South African Reserve Bank said structural impediments, together with prolonged industrial action and a moderation in global demand and declining commodity prices, have dented the country's export performance in the second quarter. "As a result of the simultaneous deterioration in the trade and services, income and current transfer … [Read more...] about Weak job market contributes to widening of current account
SA current account deficit narrows
South Africa's current account deficit narrowed to 4.5% of gross domestic product (GDP) in the first quarter of 2014 from a shortfall of 5.1% in the last quarter of 2013, the Reserve Bank said today. "As a ratio of GDP, the deficit on the current account narrowed to 4.5%,” said the central bank in its June Quarterly Bulletin. Market expectation was for the deficit to widen to 6.1%. According to the bulletin, the annualised shortfall on the trade account widened to R75 billion in the … [Read more...] about SA current account deficit narrows
Current account deficit widens
South Africa's current account deficit widened to 6.4% of gross domestic product, its biggest since 2008, said the Reserve Bank. "With South Africa's terms of trade also registering a modest further deterioration, the deficit on the current account of the balance of payments widened to 6.4% of gross domestic product, the highest deficit ratio since the third quarter of 2008," said the Reserve Bank in its September Quarterly Bulletin released on Tuesday. Analysts had expected the deficit to … [Read more...] about Current account deficit widens
Current account deficit headed in the wrong direction
South Africa's current account deficit widened further to 4.9% of Gross Domestic Product (GDP) in the first quarter of 2012, said the Reserve Bank on Thursday. "The deficit on the current account of the balance of payments widened from 3.6% of gross domestic product in the fourth quarter of 2011 to 4.9% in the first quarter of 2012," said the central bank in its June Quarterly Bulletin. The bank noted the stronger rand and a contraction in export proceeds over the period in the first … [Read more...] about Current account deficit headed in the wrong direction
Current Account Deficit Widens
South Africa's current account deficit widened to 3.3% of gross domestic product, the Reserve Bank said on Tuesday. According to the bank's September Quarterly Bulletin, the deficit in the second quarter widened to 3.3% from 3.1% in the first quarter. Analysts had forecasted 3.2%. "The current account deficit increased to a seasonally adjusted and annualised R95.4billion from R87.8billion, equivalent to 3.3 % of GDP from 3.1% and against our forecast of 3.2% on the back of the smaller … [Read more...] about Current Account Deficit Widens
