South Africa’s current account deficit increased more-than-expected in the three months ended September, figures from the South African Reserve Bank showed Tuesday.
The current account deficit rose to a seasonally adjusted 4.1 percent of the gross domestic product from 3.1 percent in the preceding quarter. Economists had expected the deficit to climb to 4.0 percent.
In value, the current account deficit for the third quarter was ZAR 165 billion versus ZAR 124 billion in the previous three-month period. It was also higher than the expected deficit of ZAR 152 billion.
In the corresponding period last year, the shortfall was ZAR 223 billion.
The South African economy returned to growth in the September quarter. Real GDP grew at an annualized rate of 0.7 percent, following a contraction of 1.3 percent in the second quarter.
This turnaround in growth reflected increases in the real value added by both the secondary and tertiary sectors, the bank said in its quarterly bulletin.
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