FX.co ★ South Africa Current Account Gap Narrows in Q3

In the third quarter of 2025, South Africa's current account deficit decreased to ZAR 57 billion, down from a revised ZAR 72.2 billion in the previous quarter. This improvement was largely attributed to a reduction in the deficit of the services, income, and current transfer accounts, which dropped to ZAR 235.3 billion from ZAR 259.4 billion in the second quarter. This decrease was primarily driven by a lower deficit in the primary income account, despite the widening of deficits in services and current transfers. Concurrently, the trade surplus slightly diminished to ZAR 178.3 billion from ZAR 187.2 billion in the previous quarter. As a proportion of gross domestic product (GDP), the current account deficit improved, reducing to 0.7% in the third quarter from a revised 1% in the second quarter, and outperforming analysts' predictions of a 1.3% deficit.