SA’s current account balance swings to a surplus in Q1

South Africa’s current account balance swung to a surplus of 1.3% of gross domestic product (GDP) in the first quarter of 2020 from a deficit of 1.3% of GDP in the previous three months, central bank data showed on Thursday.

The surplus was the first since the first quarter of 2003.

The trade balance showed a wider surplus of R208 billion ($12.27 billion) in January-March, more than double the R102.5 billion surplus in the previous three months.