Current account deficit narrows more sharply than expected
This is the smallest deficit in several years, thanks in part to improving commodity prices, but the Reserve Bank is unsure it can be sustained
22 March 2017 - 10:11
SA’s current account deficit narrowed to 1.7% of gross domestic product during the fourth quarter of 2016, from 3.8%, exceeding expectations as exports outpaced import growth. The head of the Reserve Bank's balance of payments division, Linda Motsumi, said this was the most significant lowering of the deficit on a quarterly basis in several years. The deficit slipped below 1.7% for five consecutive quarters between late 2010 and early 2011.
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