(Reuters) – South Africa’s current account surplus widened slightly to 2.2% of gross domestic product (GDP) in the first quarter from 2.1% of GDP in the final quarter of 2021, central bank data showed on Thursday.
In rand terms, the current account surplus for the January-March period rose to 143 billion rand ($9.40 billion) from 132 billion rand in the previous three months.
The trade surplus widened to 360 billion rand in the first three months of 2022 from 336 billion rand in the previous quarter, as the value of merchandise and net gold exports rose to a new all-time high, the South African Reserve Bank said.
Data on Tuesday showed South Africa’s economy grew more than expected in the first quarter, recovering to the level it was before the COVID-19 pandemic thanks to a strong performance by sectors like manufacturing.
($1 = 15.2085 rand)
(Reporting by Anait Miridzhanian in Gdansk; Editing by Alexander Winning)
