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GS Sees SA 4Q CA Surplus at 2.9% vs 2.5% BBG Consensus

SOUTH AFRICA
  • Current account data coming up at 0900GMT:
  • GS sees current account surplus moderating from 3.6% in Q3 2021 to 2.9% in Q4 2021, driven by a narrowing of the trade surplus and leaving the full-year current account surplus at 4% of GDP
  • Forecasts that the current account surplus will narrow to 2% of GDP in 2022 and remain in surplus until late 2023.
  • Also notes that it will refine its estimate for the current account balance once nominal net export data are published in the national account statistics with the Q4 GDP release
  • CA surplus consensus is 2.5% of GDP vs 3.6% prior
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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