Financial Digest

Trouble ahead for South Africa’s economy

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South Africa’s current account deficit is expected to worsen, despite being better-than-expected in Q1 2023.

Absa says South Africa’s better-than-expected current account deficit for Q1 2023 will be short-lived.

The better-than-expected deficit was mainly driven by the widening of the annualised trade surplus from R34.2 billion in Q4 2022 to R103.2 billion in Q1 2023, with the value of goal exports increasing a nine-quarter high. Although merchandise imports rose by 3.0% quarter-on-quarter, this was offset by the stronger growth in merchandise exports.

 

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