Current Account in South Africa
South Africa - Current Account
The economic scenario likely remained challenging in Q3, after the historic plunge in activity in Q2. While the pace of decline moderated from Q2 due to the gradual easing of restrictions, industrial output contracted relatively sharply in the quarter. Meanwhile, business sentiment remained entrenched in negative territory in the same period, likely holding back capital spending. Turning to Q4, however, the manufacturing PMI returned to growth for the first time in 18 months, hitting an over two-and-a-half-year high amid improved demand dynamics. Moreover, despite a stubbornly high number of Covid-19 cases, authorities announced the reopening of borders to all international travelers on 11 November, in a bid to revive the ailing tourism industry. In other news, on 28 October, the government tabled its medium-term budget statement, reaffirming its commitment to fiscal consolidation and debt stabilization.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: Manufacturing activity declines in January
March 11, 2021
Manufacturing output declined 3.4% compared to the same month a year earlier in January, which contrasted December's 1.9% increase.
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South Africa: Growth slows markedly in Q4, but beats market expectations
March 9, 2021
Economic growth softened markedly in the final quarter of 2020, with GDP expanding 6.3% in seasonally-adjusted annualized terms (SAAR), which was down from Q3’s record bounce-back of 67.3%.
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South Africa: Private sector activity eases in February
March 3, 2021
The South Africa IHS Markit Purchasing Managers’ Index (PMI) dropped to 50.2 in February from 50.8 in January.
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South Africa: Government presents improved consolidation path, yet still relies on public wage cuts
February 24, 2021
On 24 February, the government presented the budget for FY 2021–2022—which begins on 1 April—to Parliament, sticking to its commitment to fiscal consolidation and debt stabilization.
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South Africa: Inflation ticks up in January
February 17, 2021
Consumer prices rose 0.34% in January over the previous month, picking up from the 0.17% increase recorded in December and marking the sharpest increase in prices since July 2020.
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