The deficit on the current account of the balance of payments narrowed noticeably to R84.6 billion in the first quarter of 2024 from a revised R162.9 billion in the fourth quarter of 2023. The current account deficit as a ratio of gross domestic product (GDP) narrowed to 1.2% in the first quarter of 2024 from 2.3% in the fourth quarter of 2023. South Africa’s trade surplus widened from R90.9 billion in the fourth quarter of 2023 to R183.4 billion in the first quarter of 2024 as the value of goods exports increased marginally while that of merchandise imports decreased. The increase in the value of exports of goods ... (full story)