South Africa Current Account to GDP

South Africa recorded a Current Account deficit of 5.80 percent of the country's Gross Domestic Product in 2013. Current Account to GDP in South Africa is reported by the South Africa Reserve Bank. Current Account to GDP in South Africa averaged -1.45 Percent from 1963 until 2013, reaching an all time high of 6 Percent in 1987 and a record low of -7.50 Percent in 1971. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. This page provides - South Africa Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-21

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-5.80 -5.20 6.00 -7.50 -5.79 | 2014/06 1963 - 2013 Percent Yearly

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South Africa Current Account to GDP
LIST BY COUNTRY

Trade Last Previous Highest Lowest Forecast Unit
Current Account -178875.00 2013-11-15 -216000.00 14045.00 -216000.00 -192033.95 2014-03-31 ZAR Million [+]
Balance of Trade 1719.97 2014-02-15 -16933.28 10327.90 -24487.20 -2088.58 2014-02-28 ZAR Million [+]
Exports 83927.75 2014-02-15 77783.16 86499.96 55.80 81456.30 2014-02-28 ZAR Million [+]
Imports 82207.78 2014-02-15 94716.44 94716.44 66.10 82861.91 2014-02-28 ZAR Million [+]
External Debt 137095.00 2013-12-31 136621.00 137513.00 33262.00 135618.53 2014-03-31 USD Million [+]
Tourist Arrivals 1283885.00 2013-10-15 1252142.00 1331934.00 37430.00 1293634.42 2013-11-30 [+]
Current Account to GDP -5.80 2013-12-31 -5.20 6.00 -7.50 -5.79 2014-06-30 Percent [+]
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Current Account to GDP | Notes
The Current account balance as a percent of GDP provides an indication on the level of international competiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.


RELATED NEWS

South Africa Posts Trade Surplus in February  
South African trade balance turned into a ZAR 1.72 billion surplus in February of 2014, after a large ZAR 17 billion gap in January, as exports surged 7.9 percent over the previous month and imports fell sharply by 13.2 percent.
South Africa Leaves Rate on Hold  
At its March 27th, 2014 meeting, South African Reserve Bank left the benchmark interest rate unchanged at 5.5 percent, as growth outlook remains subdued while inflation risks are on the upside. The central bank hinted possible rate hikes in the medium-run.
South Africa Inflation Rate Edges Up in February  
South African annual consumer prices accelerated for the third straight month to 5.9 percent in February of 2014, up from 5.8 percent in the previous month, on higher health, fuel and petrol cost.
South Africa Reports Trade Deficit in January  
South Africa trade gap reached ZAR17.06 billion in January of 2014 as imports surged and exports remained virtually unchanged.
South African GDP Growth Accelerates in Q4  
South African economic growth quickened to a better-than-expected annualized rate of 3.8 percent over the previous quarter, as both mining and manufacturing sectors grew at double-digit rates. In 2013, the economy grew a meager 1.9 percent.
South Africa GDP Growth Beats Expectations in Q4  
In the last quarter of 2013, South African GDP growth accelerated to 2 percent over a year earlier, beating market expectations and up from a revised 1.7 percent expansion in the previous quarter mainly due to a surge in the mining sector.
South Africa Inflation Rate Rises in January  
South African annual inflation rate accelerated to 5.8 percent in January of 2014 from 5.4 percent in December as rand’s depreciation against the dollar pushed food and fuel costs up.
South Africa Unemployment Rate Falls in Q4 2013  
In the last quarter of 2013, South African jobless rate slowed for the second straight quarter to 24.1 percent, from a revised 24.5 percent in the previous period. The expanded definition of unemployment, including people who stopped looking for work, was recorded at 34 percent.
South Africa Reports Trade Surplus in December  
In December of 2013, South African trade balance turned into a surplus for the second straight month and reached ZAR 2.78 billion, breaking a two-year cycle of persistent trade deficit. Since September of 2013, trade figures include trade with regional neighbors Botswana, Lesotho, Namibia and Swaziland.
Reserve Bank of South Africa Raises Rate by 50bps  
At its January 29th meeting, Reserve Bank of South Africa decided to raise the repurchase rate by 50 bps to 5.5 percent. It is the first rate hike in nearly six years, aiming to protect the rand and curb expected inflationary pressures.
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