Current Account in South Africa
South Africa - Current Account
The economy returned to pre-pandemic levels as economic growth accelerated in the first quarter. The print was driven by increases in household consumption and exports of goods and services, although the pace of expansion eased for both. Activity seemingly began to worsen in the second quarter. Business conditions improved at a softer pace in April and May compared to the prior quarter, with activity disrupted by the devastating floods in the KwaZulu-Natal region. Business sentiment tanked further in the same two months. Furthermore, manufacturing production contracted at a six-month steep pace in April. Meanwhile, elevated inflation will have dented household spending. More positively, the war in Ukraine is buoying exports of coal to Europe, boding well for the external sector. Lastly, in mid-June the World Bank approved a USD 474 million loan to fund Covid-19 vaccine purchases.South Africa - Current Account Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | -4.6 | -2.9 | -2.5 | -3.5 | -3.0 |
South Africa Current Account Chart
Source: South African Reserve Bank and FocusEconomics calculations.
South Africa Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 8.26 | 0.29 % | Dec 31 |
| Exchange Rate | 13.98 | -0.21 % | Dec 31 |
| Stock Market | 0.1 | -0.44 % | Jan 06 |
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Economic News
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South Africa: Inflation increases to over 13-year high in June
July 20, 2022
Consumer prices rose 1.07% from the previous month in June, accelerating from May's 0.68% increase.
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South Africa: Decline in manufacturing activity softens in May
July 12, 2022
Manufacturing output dropped 0.2% in month-on-month seasonally-adjusted terms in May, which was an improvement from April's 5.7% decrease.
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South Africa: Conditions improve at strongest pace in over a year in June
July 5, 2022
The S&P Global Purchasing Managers’ Index (PMI) increased to a 13-month high of 52.5 in June, up from the prior month’s 50.7.
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South Africa: Inflation soars to over five-year high in May
June 22, 2022
Consumer prices rose 0.68% over the previous month in May, picking up from April's 0.59% rise.
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South Africa: Manufacturing production records largest decrease in six months in April
June 9, 2022
Manufacturing output collapsed 5.4% month-on-month in seasonally-adjusted terms in April (March: +0.3% mom).
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