South Africa recorded a trade deficit of ZAR 3.54 billion in June 2023, compared to a downwardly revised ZAR 9.57 billion surplus in the previous month and way below market estimates of a ZAR 11.85 billion surplus. Exports fell by 8.6% from the previous month to ZAR 167.6 billion, mainly due to shipments of vehicles and transport equipment (-28%), mineral products (-13%), precious metals & stones (-9%) and base metals (-6%). On the other hand, sales of vegetable products rose 4%. Meanwhile, imports dropped 1.6% over a month earlier to ZAR 171.2 billion, mainly driven by a decline in purchases of precious metals & stones (-32%) and prepared foodstuff (-20%), while purchases of original equipment components rose by 4%. Considering the first half of the year, the country's trade surplus narrowed sharply to ZAR 5.6 billion from a ZAR 129.6 billion in the first six months of 2022. source: South African Revenue Service

Balance of Trade in South Africa averaged 1243.06 ZAR Million from 1957 until 2023, reaching an all time high of 52738.38 ZAR Million in March of 2021 and a record low of -36127.55 ZAR Million in April of 2020. This page provides the latest reported value for - South Africa Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Africa Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Balance of Trade in South Africa is expected to be 2000.00 ZAR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Balance of Trade is projected to trend around 2000.00 ZAR Million in 2024 and 22000.00 ZAR Million in 2025, according to our econometric models.

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South Africa Balance of Trade



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-06-30 12:00 PM May ZAR10.2B ZAR3.97B ZAR6B ZAR5.0B
2023-07-31 12:00 PM Jun ZAR-3.54B ZAR9.6B ZAR11.85B ZAR11.5B
2023-08-31 12:00 PM Jul ZAR-3.54B ZAR-1.25B ZAR-1.8B


Related Last Previous Unit Reference
Balance of Trade -3541.17 9575.61 ZAR Million Jun 2023
Exports 167615.33 183440.04 ZAR Million Jun 2023
Imports 171156.50 173864.44 ZAR Million Jun 2023

South Africa Balance of Trade
In 2021, South Africa recorded a trade surplus for the fifth consecutive year. The top exports of South Africa are mineral products; base metals and articles of base metal; vehicles and aircraft vessels and machinery (6.8 percent), shipped primarily to China, the United States and Germany. The top imports of South Africa are machinery, mineral products, chemicals and vehicles & transport equipment, sourced mainly from China, India and the United States.
Actual Previous Highest Lowest Dates Unit Frequency
-3541.17 9575.61 52738.38 -36127.55 1957 - 2023 ZAR Million Monthly

News Stream
South Africa Trade Balance Swings to Deficit in June
South Africa recorded a trade deficit of ZAR 3.54 billion in June 2023, compared to a downwardly revised ZAR 9.57 billion surplus in the previous month and way below market estimates of a ZAR 11.85 billion surplus. Exports fell by 8.6% from the previous month to ZAR 167.6 billion, mainly due to shipments of vehicles and transport equipment (-28%), mineral products (-13%), precious metals & stones (-9%) and base metals (-6%). On the other hand, sales of vegetable products rose 4%. Meanwhile, imports dropped 1.6% over a month earlier to ZAR 171.2 billion, mainly driven by a decline in purchases of precious metals & stones (-32%) and prepared foodstuff (-20%), while purchases of original equipment components rose by 4%. Considering the first half of the year, the country's trade surplus narrowed sharply to ZAR 5.6 billion from a ZAR 129.6 billion in the first six months of 2022.
2023-07-31
South Africa Trade Surplus Larger than Forecast
South Africa recorded a trade surplus of ZAR 10.2 billion in May 2023, well above market estimates of ZAR 6 billion and an upwardly revised ZAR 4 billion in the prior month. Exports surged by 12.3% over a month earlier to ZAR 184.2 billion, mainly bolstered by shipments o vegetable products (+28%); machinery & electronics (+24%); vehicle & transport equipment (+17%); precious metals & stones (+13%) and base metals (+9%). Meanwhile, imports rose at a slower 8.7% to ZAR 174 billion, driven by purchases of wood pulp & paper (+38%); machinery & electronics (+7%) and mineral products (+7%).
2023-06-30
South Africa Trade Surplus Narrows More than Expected
South Africa recorded a trade surplus of ZAR 3.5 billion in April 2023, below market estimates of ZAR 4.95 billion and a downwardly revised ZAR 6.3 billion in the prior month. Exports tumbled 14.5% over a month earlier to ZAR 163 billion, mainly on lower shipments of precious metals & stones (-30%); machinery & electronics (-22%); base metals (-14%) and vegetable products (-14%). Among trading partners, overseas sales decreased to Europe (-15.9%), Africa (-13.4%), Asia (-12%) and America (-7.6%) but rose to Oceania (+2.5%). Meanwhile, imports fell at a slower 13.5% to ZAR 160.3 billion, amid sharp declines in purchases of mineral products (-34%); vehicles & transport equipment (-25%); wood pulp & paper (-30%) and chemical products (-12%). Among trading partners, acquisitions were reduced from Asia (-10.1%), Africa (-33.6%), Europe (-17.4%) and Oceania (-11%), but increased from America (+2.3%).
2023-05-31