South Africa Current Account Surplus Widened to All-Time High in 2Q

By Xavier Fontdegloria

South Africa's current account balance widened in the second quarter to the largest surplus ever, the country's Reserve Bank said Thursday.

The current account surplus stood at 343 billion rand ($24.17 billion) from April to June, compared with a ZAR261 billion surplus registered in the previous three-month period.

South Africa's current account as a ratio of gross domestic product rose to a surplus of 5.6% in the second quarter from a surplus of 4.3% in the first quarter.

The value of South Africa's goods exports increased to a new all-time high in the second quarter of 2021, the country's Reserve Bank said.

South Africa's trade surplus widened to a record high of ZAR614 billion in the second quarter from ZAR451 billion in the preceding quarter, the data showed.

Write to Xavier Fontdegloria at [e-mail]

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(END) Dow Jones Newswires

09-09-21 0524ET