JOHANNESBURG, Dec 8 (Reuters) – South Africa’s existing account deficit narrowed to 0. 3 percent of gross domestic product in the third quarter of 2022 from 1. 6 in the current quarter, central bank data said on Thursday.
In rand terms, the existing account deficit for the July-September period was R18. 1 billion ($1. 06 billion), compared with a deficit of R107 billion in the last quarter.
The industry surplus fell to 233 billion rand in the quarter from 252 billion rand last quarter as exports and imports of goods hit record levels, the central bank said in a statement.
South Africa Statistics data showed on Tuesday that the country’s economy grew 1. 6% in the third quarter, supported by exports and the functionality of the agricultural sector.
($1 = R17. 1282)
(Reporting via Kopano Gumbi; Editing via Olivia Kumwenda-Mtambo)