South Africa has recorded its first current account surplus in over two years, offering a welcome boost to an economy navigating significant headwinds. The South African Reserve Bank confirmed a surplus of 0.6% of GDP in the fourth quarter of 2025—equivalent to roughly $3 billion—swinging sharply from a deficit of 0.9% in the previous quarter. The turnaround was driven primarily by surging precious metal prices, with gold export revenues helping widen the trade surplus in Q3. The last time South Africa posted a current account surplus was in mid-2023. While a single quarter doesn’t signal a permanent shift, the numbers offer encouraging signs for the country’s external financial position.
CNBC Africa
