12.03.202609:20:54UTC+00South Africa Posts 1st Current Account Surplus Since 2023

South Africa recorded a current account surplus of ZAR 50.2 billion in Q4 2025, following a revised deficit of ZAR 72 billion in the previous quarter. This was the first surplus since Q3 2023 and the largest since Q1 2022, driven by a sharp increase in the trade surplus to ZAR 282.2 billion from ZAR 169 billion in Q3, as exports strengthened and imports weakened. At the same time, the deficit on the services, income and current transfer account narrowed to ZAR 232.1 billion from ZAR 241 billion in the prior quarter. As a result, the current account balance moved to a surplus of 0.6% of GDP in Q4 2025, compared with a deficit of 0.9% of GDP in Q3. For 2025 as a whole, the current account deficit declined to ZAR 35.2 billion (0.5% of GDP), from ZAR 48.0 billion (0.7% of GDP) in 2024.