The deficit on the current account of the balance of payments narrowed to R66.2 billion in the first quarter of 2023 from a revised R155 billion in the fourth quarter of 2022. The current account deficit as a ratio of gross domestic product (GDP) narrowed to 1.0% in the first quarter of 2023 from 2.3% in the preceding quarter. South Africa’s trade surplus widened from R34.2 billion in the fourth quarter of 2022 to R103 billion in the first quarter of 2023 as the value of goods exports increased more than that of merchandise imports. The increase in the value of exports of goods and services reflected both higher ... (full story)