JOHANNESBURG - South Africa's current account deficit narrowed to 0.7% of gross domestic product (GDP) in the third quarter from 1.0% of GDP in the second quarter, central bank data showed on Thursday.

In rand terms the deficit on the current account decreased to 57.0 billion rand ($3.34 billion) in July-September, from a 72.2 billion rand deficit in the previous three months.

The trade surplus also narrowed to 178.3 billion rand from 187.2 billion rand in the second quarter as the value of imports increased more than that of exports, the South African Reserve Bank said in a statement.

 

($1 = 17.0496 rand)