SA records narrower current account surplus in Q4 2021

In rand terms, the current account surplus for the October-December period was at R120 billion from R216 billion in the previous three months.
Image: Waldo Swiegers/Bloomberg

South Africa’s current account surplus narrowed to 1.9% of gross domestic product (GDP) in the fourth quarter of 2021 from a surplus of 3.5% of GDP in the third quarter, central bank data showed on Thursday.

In rand terms, the current account surplus for the October-December period was at R120 billion ($7.97 billion) from R216 billion in the previous three months.

The central bank said the country’s terms of trade had deteriorated further in the fourth quarter as the rand price of exported goods and services declined while the price of imports increased.

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