What is the trade balance of South Africa?

What is the trade balance of South Africa?

A positive trade balance signifies a trade surplus, while a negative value signifies a trade deficit. In 2020, South Africa’s trade surplus amounted to around 1.77 billion U.S. dollars….South Africa: Trade balance from 2010 to 2020 (in billion U.S. dollars)

Characteristic Trade balance in billion U.S. dollars

Is a current account deficit bad for South Africa?

A current account deficit is not necessarily a bad thing, especially if it is not caused by a persistent inability to compete in international markets. The gap in South Africa’s current account is financed by a surplus on its financial account, which relies on investment inflows from abroad.

What is the current balance of payment in South Africa?

South Africa: Trade

Reference Previous
Current Account Balance 2021 Q1 197,818
Exports of Goods 2021 Q1 1,496,786
Exports of Goods and Services 2021 Q1 1,722,803
Imports of Goods 2021 Q1 1,199,353

Does South Africa have a positive trade balance?

South Africa recorded a positive trade balance of R1. 7 billion during May 2019 with the rest of the world. The summary below shows the top 5 export destinations for South African exports during May 2019: China (11.0%)

What does South Africa import the most?

South Africa main imports are: machinery (23.5 percent of total imports), mineral products (15.1 percent), vehicles and aircraft vessels (10 percent), chemicals (10.9 percent), equipment components (8.1 percent) and iron and steel products (5.3 percent).

Why is South African currency so weak?

Since South Africa relies more on mineral exports, low commodity prices have also led to a weakening of the Rand. Due to low economic growth, China’s demand for commodities have gone down resulting in lower global commodity prices. Investor confidence is yet another factor affecting the value of currency.

How is income distributed in South Africa?

In South Africa, net household wealth is extremely concentrated, with the top decile owning 86% of total net wealth (see Table 1). The top 1% of the South African adult population (350,000 individuals) own 55% of aggregate personal wealth, and the top 0.1% alone (35,000 individuals) own almost a third of wealth.

What does balance of payments indicate?

The balance of payments summarises the economic transactions of an economy with the rest of the world. These transactions include exports and imports of goods, services and financial assets, along with transfer payments (like foreign aid).

What is the current account of South Africa?

Looking forward, we estimate Current Account in South Africa to stand at -120000.00 in 12 months time. In the long-term, the South Africa Current Account is projected to trend around -135000.00 ZAR Million in 2021 and -140000.00 ZAR Million in 2022, according to our econometric models.

How is debt service ratio calculated in South Africa?

Industries are clasified according to the Standard Industrial Classification (SIC) fifth edition, the localization of ISIC Rev.3. Debt-service cost is defined as the interest payments on household’s outstanding debt. To calculate the debt service ratio, debt-service cost is multiplied by 100, and then divided by net disposable income of households.

What is the current account deficit in South Africa?

South Africa’s current account deficit narrowed to ZAR 190.3 billion in the third quarter of 2019 from an upwardly revised ZAR 208.7 billion in the previous period and compared with market expectations of a ZAR 160.8 billion gap.

What is the current balance of trade in South Africa?

South Africa Balance of Trade – data, historical chart, forecasts and calendar of releases – was last updated on June of 2021. Balance of Trade in South Africa is expected to be 67000.00 ZAR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations.