Finweek English Edition

RECORD SURPLUS R342.8bn

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SA’s current account recorded its largest surplus ever in the second quarter of this year, reaching R342.8bn or 5.6% of gross domestic product (GDP), according to Reserve Bank data. “South Africa’s terms of trade improved further in the second quarter of 2021 as the rand price of exports of goods and services increased more than the price of imports,” the central bank said in a statement. It said metals and precious metals, including iron ore and platinum group metals, were some of the items that drove the value of exports higher.

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