The South African Reserve Bank published the June 2026 Quarterly Bulletin, updating South Africa’s balance of payments and national accounts data. The release shows the current account deficit narrowed to ZAR35.2 billion in 2025 from ZAR48.0 billion in 2024, while real gross value added at basic prices rose to ZAR4.259 trillion from ZAR4.212 trillion and real household consumption increased to ZAR3.225 trillion from ZAR3.114 trillion. The bulletin’s seasonally adjusted quarterly indicators also show gross domestic product rose 0.5 percent quarter on quarter in the first quarter of 2026, while gross domestic expenditure fell 0.3 percent. Within the external accounts, the 2025 trade balance remained above ZAR200 billion at ZAR212.1 billion, compared with ZAR214.3 billion in 2024. The balance on the financial account was ZAR54.1 billion in 2025, down from ZAR65.9 billion a year earlier, with net direct investment inflows easing to ZAR30.5 billion and net portfolio investment shifting to a ZAR29.3 billion inflow from a ZAR21.0 billion outflow. On the quarterly national accounts side, first quarter 2026 household consumption rose 0.1 percent, government consumption 0.6 percent and exports of goods and services 0.5 percent, while gross fixed capital formation fell 1.1 percent and imports fell 2.6 percent.
South African Reserve Bank2026-06-30
South African Reserve Bank publishes June Quarterly Bulletin with narrower 2025 current account deficit and 0.5 percent GDP growth in the first quarter of 2026
The South African Reserve Bank’s June 2026 Quarterly Bulletin updates South Africa’s balance of payments and national accounts data. It shows the current account deficit narrowed to ZAR35.2 billion in 2025 from ZAR48.0 billion in 2024, while real gross value added and real household consumption both increased over the year. Seasonally adjusted data for the first quarter of 2026 show gross domestic product rose 0.5 percent quarter on quarter and gross domestic expenditure fell 0.3 percent.