JOHANNESBURG – South Africa's current account deficit widened to 2.1% of gross domestic product in the first quarter, from 1.7% three months earlier, the country's central bank said Tuesday.
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The main reason behind the deeper deficit was a sharp decline in dividend receipts from abroad, even as the country maintained a trade surplus, the South African Reserve Bank said in its quarterly bulletin.
Africa's most developed economy entered a technical recession in the first quarter--its first since 2009.
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(END) Dow Jones Newswires
June 20, 2017 05:01 ET (09:01 GMT)