PRETORIA: South Africa’s current account deficit widened to 5 percent of gross domestic product in the first quarter of this year from a revised shortfall of 4.6 percent in the final quarter of 2015, the central bank said on Tuesday.
Economists surveyed by Reuters had expected a 4.25 percent gap For the first quarter. Exports slumped during the quarter, resulting in a trade deficit of 38 billion rand, ($2.5 billion) compared with a revised 41 billion rand gap in the fourth quarter, the Reserve Bank said in its June quarterly bulletin.