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Africa|Services
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africa|services

South Africa's current account deficit broadly unchanged in Q3

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5th December 2024

By: Reuters

  

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South Africa's current account deficit was broadly unchanged from the second to the third quarter of this year, staying at 1.0% of gross domestic product (GDP), central bank data showed on Thursday.

In rand terms the current account deficit narrowed to R70.8-billion in July-September, from a revised R75.3-billion in the previous three-month period.

The trade surplus narrowed slightly to R177-billion from R179.5 billion, as the value of goods exported decreased more than that of imports.

"The decrease in the value of exports and imports of goods and services in the third quarter of 2024 reflected both lower volumes and prices," the South African Reserve Bank said in a statement.

Edited by Reuters

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