The Current Account is part of South Africa's balance of payments, which is a systematized data on all economic transactions between residents and non-residents. In addition to the absolute value, the Current Account is also expressed as a percentage of the country's GDP, which indicates the country's level of international competitiveness.
The Current Account reflects all transactions related to goods and services, as well as primary and secondary income. Primary income includes investment income (for example, interest and dividends). Secondary income refers to current transfers between residents and non-residents not subject to any condition. For example, these are current transfers from the central government or foreign aid.
A current account surplus increases net external assets and leads to an increase in capital exports in the form of an increase in external assets in the capital account. Some economists interpret this as a sign of weakness, others as its strength. In the case of a current account deficit, this is exactly the opposite. Furthermore, long-lasting, rising external imbalances are seen as causes of financial crises.
In general, however, values that exceed expectations are regarded as positive for the South African rand and negative if they are below expectations.
The chart of the entire available history of the "South Africa Current Account - GDP Ratio" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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