Thebe Mabanga
The balance on the country’s current account switched from a deficit of R72.0 billion in the third quarter of 2025 to a surplus of R50.2 billion in the fourth quarter, according to the South African Reserve Bank.
This is the first surplus since the third quarter of 2023.
A key driver was higher gold prices, which boosted exports, and a stronger rand, which made imports cheaper.
ALSO READ: Lamola warns SADC of Middle East economic shocks
The current account balance, as a ratio of gross domestic product (GDP), switched to a surplus of 0.6% in the fourth quarter of 2025 from a deficit of 0.9% in the third quarter.
The current account measures a country’s transactions with the rest of the world, including trade in goods and services as well as income flows. A surplus means total receipts exceeded payments.
South Africa tends to run a deficit during
You’ve reached your free article limit
Subscribe to enjoy unlimited access to trusted journalism. Cancel anytime.
Subscribe nowNeed help? molokom@insidepolitic.co.za
