The South African Reserve Bank published its quarterly statistical bulletin, showing that real gross domestic product contracted 0.2% quarter to quarter in the second quarter of 2026, on a seasonally adjusted but nonannualized basis. Gross national income fell 3.2%, while gross domestic expenditure rose 0.9%, indicating that domestic spending outpaced production. Household consumption and government consumption each increased 0.4%, while gross fixed capital formation declined 0.2%. Exports rose 0.9%, but imports increased 4.9%. The annual balance of payments tables show that the current account deficit narrowed to ZAR 35.222 billion in 2025 from ZAR 47.991 billion in 2024, while the financial account recorded a ZAR 54.105 billion surplus.
Source: 2026-09-29South African Reserve Bank
South African Reserve Bank reports 0.2% GDP contraction in the second quarter of 2026
The South African Reserve Bank reported a 0.2% quarter-to-quarter contraction in real GDP in the second quarter of 2026, while gross domestic expenditure grew 0.9%. Household and government consumption each rose 0.4%, but fixed investment fell 0.2% and imports increased 4.9%. The annual current account deficit narrowed to ZAR 35.222 billion in 2025.