The South African Reserve Bank published its balance of payments current account statistics for the first quarter of 2025, showing the current account deficit narrowed to ZAR 35.6 billion from a revised ZAR 39.3 billion in the fourth quarter of 2024. The deficit remained broadly unchanged at 0.5% of gross domestic product. South Africa’s trade surplus narrowed slightly to ZAR 221.2 billion from ZAR 226.4 billion as the value of merchandise imports rose more than goods exports, with higher volumes and prices lifting both imports and exports of goods and services. The shortfall on the services, income and current transfer account narrowed to ZAR 256.8 billion from ZAR 265.7 billion, reflecting smaller deficits on the services and income accounts that outweighed a wider deficit on current transfers, and the overall shortfall eased to 3.5% of GDP from 3.6%. The next release is scheduled for 11 September 2025.
South African Reserve Bank 2025-06-05
South African Reserve Bank reports current account deficit narrows to ZAR 35.6 billion in first quarter 2025
The South African Reserve Bank reported a narrowing of the current account deficit to ZAR 35.6 billion in Q1 2025, remaining at 0.5% of GDP. The trade surplus decreased to ZAR 221.2 billion due to rising merchandise import values. The overall shortfall on the services, income, and current transfer account eased to 3.5% of GDP.