South Africa Balance of Payments: Second quarter 2024

From resbank.co.za

The deficit on the current account of the balance of payments narrowed noticeably to R64.6 billion in the second quarter of 2024 from a revised R106.9 billion in the first quarter. The current account deficit as a ratio of gross domestic product (GDP) narrowed further to 0.9% in the second quarter of 2024 from 1.5% in the first quarter. South Africa’s trade surplus widened further from R165.8 billion in the first quarter of 2024 to R187.4 billion in the second quarter as the value of goods exports increased more than that of merchandise imports. The increase in the value of exports of goods and services in the ... (full story)