South Africa 2Q Current Account Deficit Widens to 2.4% -Reserve Bank

By Gabriele Steinhauser Features Dow Jones Newswires

South Africa's current account deficit widened to 2.4% of gross domestic product in the second quarter, due to shortfalls in services, income and current transfer accounts, the country's reserve bank said Thursday.

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In the first quarter, South Africa's a current account deficit stood at 2% of GDP.

The widening of the current-account deficit in the second quarter came even as the value of gold and merchandise exports increased slightly, leading to a bigger trade surplus with the rest of the world, the bank said.

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September 14, 2017 04:36 ET (08:36 GMT)