Cur­rent ac­count deficit widens

Cape Argus - - BUSINESS -

SOUTH Africa’s cur­rent ac­count deficit widened to 2.4% of gross do­mes­tic prod­uct in the sec­ond quar­ter as an in­creased trade sur­plus was off­set by a larger short­fall on ser­vices, in­come and cur­rent trans­fer pay­ments, the cen­tral bank says.

The over­all deficit was wider than fore­cast by econ­o­mists sur­veyed, who ex­pected it to match the first-quar­ter fig­ure of 2%.

A rise in the value of ex­ported gold and mer­chan­dise goods had helped widen the trade sur­plus to R65 bil­lion from R57bn in the first quar­ter, the Re­serve Bank said in its Septem­ber quar­terly bul­letin. The ser­vices, in­come and cur­rent trans­fer ac­count deficit widened to 3.8% from 3.3%. – Reuters

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