South Africa's current account deficit widened to 1.6% of GDP for 2023, from 0.5% in the previous year. Current Account to GDP in South Africa averaged -1.47 percent of GDP from 1963 until 2023, reaching an all time high of 6.00 percent of GDP in 1987 and a record low of -7.50 percent of GDP in 1971. source: South African Reserve Bank
Current Account to GDP in South Africa is expected to reach -2.80 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Current Account to GDP is projected to trend around -3.60 percent of GDP in 2025 and -4.00 percent of GDP in 2026, according to our econometric models.