FX.co ★ South Africa’s Current Account Surplus Widens to 2.4% of GDP in Q1 2026

South Africa’s current account surplus strengthened markedly in the first quarter of 2026, rising to 2.40% of GDP from 0.60% in the fourth quarter of 2025. The latest figures, updated on 11 June 2026, signal a sharp improvement in the country’s external balance at the start of the year.

The move from a modest surplus at the end of 2025 to a significantly larger buffer in early 2026 suggests firmer support for the rand and a potentially more comfortable backdrop for external financing. While the data do not detail the drivers behind the shift, the improved current account position typically reflects a combination of stronger export performance, softer import demand, or favourable income and transfer flows.

With the surplus now at 2.40% of GDP, South Africa enters the remainder of 2026 with a stronger external footing than in late 2025, a development that will be closely watched by investors assessing the country’s macroeconomic resilience.