Current Account in South Africa
South Africa - Current AccountEarly second-quarter indicators signal some respite following a sharper-than-expected contraction in Q1 due to rolling power outages. The retail sector picked up in April; car sales, on average, bounced back from the first quarter in April–May; while manufacturing activity grew at a faster pace, on average, in the same two months. Overall growth prospects remain bleak, however, with uncertainty over the restructuring of Eskom, the heavily indebted state-owned power utility, weighing on economic sentiment. Following slight upturns in April, the manufacturing PMI swung back into negative territory in May–June, and business confidence faltered again. The government is considering other measures to aid Eskom in addition to the ZAR 230 billion pledged, while minimizing the risk to public finances and credit ratings. Options on the table include swapping the firm’s sizeable debt for sovereign bonds or using a special purpose vehicle.
South Africa - Current Account Data
|Current Account (% of GDP)||-5.8||-5.1||-4.6||-2.9||-2.5|
5 years of economic forecasts for more than 30 economic indicators.
South Africa Current Account Chart
Source: South African Reserve Bank and FocusEconomics calculations.
South Africa Facts
|Bond Yield||8.03||0.29 %||Jul 11|
|Exchange Rate||13.94||-0.21 %||Jul 11|
|Stock Market||0.1||-0.44 %||Jul 11|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
July 18, 2019
At its meeting ending 18 July, the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) unanimously opted to cut the repurchase rate by 25 basis points to 6.50%, after holding rates for eight months.
July 11, 2019
The manufacturing sector decelerated in May, with the annual growth of production slowing to 1.0% from a revised 4.3% expansion in April (previously reported: +4.6% year-on-year).
July 3, 2019
In June, the IHS Markit Purchasing Managers’ Index (PMI) rose from 49.3 in May to 49.7 in June.
June 19, 2019
Consumer prices increased 0.3% month-on-month in May, down from 0.6% in April.
June 12, 2019
In May, the Standard Bank Purchasing Managers’ Index (PMI) fell 1.0 point to 49.3 points.