South Africa Q3 current account deficit narrows to 3.7% of GDP
CAPE TOWN – South Africa’s current account deficit narrowed to 3.7% of gross domestic product (GDP) in the third quarter from 4.1% in the second three months of the year, central bank data showed on Thursday.
The deficit, which was wider than the 3.1% forecast by economists surveyed by Reuters, is unlikely to stay narrower as the country faces weak economic growth and a tougher export market as the Sino-U.S. trade war drags on.
The trade balance swung to a surplus of 41.1 billion rand ($2.8 billion) in the third quarter from a deficit of 31.8 billion rand in the previous three months.
Source: iol.co.za
