South African Current-Account Deficit Shrinks More Than Expected

South Africa’s current-account deficit shrank by more than expected in the fourth quarter, aided by an improvement in the trade surplus.

The gap on the current account – the broadest measure of trade in goods and services – narrowed to 0.4% of gross domestic product or 31.6 billion rand ($1.72 billion) in the three months through December, from a revised 0.8% of GDP or 55.6 billion rand in the prior quarter, data released Thursday by the central bank showed.