South Africa’s external position deteriorated markedly in the second quarter of 2026, as the current account balance swung from a surplus to a substantial deficit. After posting a current account surplus of 181.6B in the first quarter of 2026, the country moved to a deficit of -205.5B in the second quarter of 2026.
The reversal highlights a significant shift in South Africa’s trade and income dynamics over just one quarter, with the magnitude of the move suggesting pronounced pressure on the external balance. The updated figures, released on 10 September 2026, will likely draw close scrutiny from investors and policymakers monitoring the sustainability of the country’s external accounts and potential implications for currency stability and financing needs.
