Current Account in South Africa

South Africa Current Account | Economic News & Forecasts

South Africa - Current Account

Conditions likely remained challenging in Q3, although available data hints at a mild pickup halfway through the quarter, with manufacturing production expanding in monthly terms in August–September for the first time in five months. Meanwhile, following the UN’s COP26 summit, South Africa is set to receive USD 8.5 billion in funding to accelerate the switch from coal to renewables—currently around 90% of the country’s energy is supplied by coal-fueled plants. In politics, the ruling African National Congress party recorded its worst ever result at the municipal elections on 1 November, disadvantaged by a low voter turnout, widespread corruption and a high unemployment rate. The results augur trouble for the party at the next general elections in 2024. On 11 November, authorities presented the medium-term FY 2022 budget, which commits to a deficit reduction and the stabilization of the debt-to-GDP ratio, and sees output returning to pre-pandemic levels.

South Africa - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)-4.6  -2.9  -2.5  -3.5  -3.0  

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South Africa Current Account Chart


South Africa Current Account
Note: Current account balance as % of GDP.
Source: South African Reserve Bank and FocusEconomics calculations.

South Africa Facts

Value Change Date
Bond Yield8.260.29 %Dec 31
Exchange Rate13.98-0.21 %Dec 31
Stock Market0.1-0.44 %Jan 06

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