South Africa's Q1 current account deficit widens to 2.1 percent of GDP


Reuters

PRETORIA, June 20 (Reuters) - South Africa's current account
deficit widened to 2.1 percent of GDP in the first quarter of
this year from a deficit of 1.7 percent in the fourth quarter of
2016, the central bank said on Tuesday.
    Economists surveyed by Reuters had expected a 2.3 percent
deficit for the quarter.
    South Africa's trade surplus was largely unchanged at 57
billion rand ($4.4 billion), helped by a slight increase in the
value of net gold and merchandise exports, the bank said.
    "The broadly unchanged trade surplus occurred alongside a
widening of the shortfall on the services, income and current
transfer account. Consequently, the deficit on the current
account of the balance of payments widened," the Reserve Bank
said in its June quarterly bulletin.
   ($1 = 12.9875 rand)

 (Reporting by Olivia Kumwenda-Mtambo; Editing by James
Macharia)
 ((Olivia.Kumwenda@thomsonreuters.com; +27 11 775 3159; Reuters
Messaging: olivia.kumwenda.thomsonreuters.com@reuters.net))

Keywords: SAFRICA CURRENTACCOUNT/ (URGENT)



This article appears in: Politics , Stocks , World Markets , Economy


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