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South Africa's current account records Q2 deficit as Iran war drives up import costs
South Africa's current account records Q2 deficit as Iran war drives up import costs
South Africa recorded a current account deficit in the second quarter after a strong surplus in the first three months of this year, as the Iran war drove import costs sharply higher, central bank data showed on Thursday.
The current account deficit was 2.6% of gross domestic product in the second quarter, compared with a surplus of 2.3% in the first quarter of 2026, the South African Reserve Bank (SARB) said.
The deficit on the current account was R205.5-billion in April-June, compared with a surplus of…
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