Current account balance as a share of GDP reached -3.51 % in 2019 in South Africa, according to the National Statistical Office. This is 9.44 % more than in the previous year.
Historically, current account balance as a share of GDP in South Africa reached an all time high of 0.051 % in 1979 and an all time low of -3.51 % in 2019. When compared to South Africa's main peers, current account balance as a share of GDP in Botswana amounted to 7.68 %, -12.5 % in Lesotho, -7.64 % in Namibia and 9.80 % in Swaziland in 2019.
South Africa has been ranked 99th within the group of 172 countries we follow in terms of current account balance as a share of GDP, 16 places behind the position seen 10 years ago.
The current account is one of the two primary components of the balance of payments, the other being the capital account.