South Africa Current Account Surplus Narrowed Markedly in 3Q

By Maria Martinez

South Africa's posted a smaller current account surplus in the third quarter following the largest surplus ever in the second quarter, the country's central bank said Thursday.

The current account surplus stood at 226 billion rand ($14.38 billion) from July to September, compared with a ZAR311 billion surplus registered in the previous three-month period, South African Reserve Bank data showed.

South Africa's current account surplus as a ratio of gross domestic product fell to 3.6% in the third quarter from 5.1% in the second quarter.

Exports of goods decreased 6.7% in the third quarter, while imports remained broadly unchanged, the country's central bank said.

South Africa's trade surplus narrowed noticeably to ZAR455 billion in the third quarter from ZAR582 billion in the previous quarter, the data showed.

Write to Maria Martinez at [e-mail]

Corrections & Amplifications

The headline of the story was corrected at 0958 GMT because the reporting period was missatated as the second quarter.

(END) Dow Jones Newswires

12-09-21 0447ET