Meanwhile, SA’s trade surplus widened notably from R10.2bn in the third quarter to R71.8bn in the fourth quarter
SA’s current-account deficit narrowed more than expected on a wider trade surplus in the fourth quarter.
The deficit improved to 2.2% of GDP in the fourth quarter from 3.7% in the previous quarter, mainly due to the smaller trade surplus, data from the SA Reserve Bank showed on Thursday.Investec expected the deficit to narrow to 3.2%, while Absa expected a deficit of 3.7% and NKC projected a narrowing to 3.3%.The current account is indicative of SA’s trade with the rest of the world.
The deficit on the current account of the balance of payments narrowed by R70.2bn to R110.2bn in the fourth quarter compared to R180.4bn in the third quarter. Meanwhile, SA’s trade surplus widened substantially from R10.2bn in the third quarter to R71.8bn in the fourth quarter as exports increased and imports declined.
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