News

South Africa Posts Largest Trade Surplus on Record
South Africa's trade surplus rose to ZAR 54.60 billion in May of 2021 from an upwardly revised ZAR 51.26 billion in the previous month and beating market expectations of ZAR 46.5 billion. It was the largest monthly trade surplus ever recorded. Exports increased by 1.5% to ZAR 163.51 billion, as higher shipments of vehicles & transport equipment (26%), vegetables (35%) and chemical products (9%) outweighed decreases in those of precious metals & stones (-5%) and mineral products (-7%). Main export partners were the US (12.5% of total overseas sales), China (10.9%), Germany (8.6%), Japan (8.6%) and the UK (7.2%). Meanwhile, imports went down 0.9% to ZAR 108.91 billion, as sharp declines in purchases of precious metals & stones (-42%) and original equipment components (-8%) more than offset increases in those of mineral products (9%) and base metals (14%). Main import partners were China (20% of total purchases), Germany (8.3%) and the US (6.6%).
Published on 2021-06-30

South Africa Trade Surplus Shrinks in April
South Africa's trade surplus shrank to ZAR 51.24 billion in April of 2021 from a downwardly revised ZAR 52.57 billion in the previous month and surpassed market expectations of ZAR 31 billion. Exports went down by 3.9 percent to ZAR 161.47 billion weighed down by fewer shipments of mineral products (-2.6 percent); vehicles, aircraft, vessels & transport equipment (-13.0 percent); base metals & articles thereof (-12.0 percent); machinery & electronics (-9.6 percent); chemicals (-12.4 percent); and vegetable products (-23.2 percent). Exports to Asia, the largest export destination, declined by 1.4 percent. Meantime, imports fell 4.6 percent to ZAR 110.23 billion, on fewer purchases of machinery & electronics (-7.6 percent); chemicals (-19.4 percent); and original equipment components (-17.4 percent). Imports from Asia, the most relevant origin of imports, fell 10.6 percent.
Published on 2021-05-31

South Africa Posts Record Trade Surplus in March
South Africa's trade surplus rose to ZAR 52.77 billion in March of 2021 from an upwardly revised ZAR 31.22 billion in the previous month and beating market consensus of a ZAR 25 billion. It was the largest monthly trade surplus ever recorded, as exports jumped 28.9% to ZAR 168.29 billion boosted by shipments of precious metals & stones (41%); vehicles & transport equipment (32%); mineral products (22%); vegetable products (43%) and chemicals (31%). Meantime, imports advanced at a slower 16.3% to ZAR 115.52 billion, lifted by purchases of chemicals (46%); machinery & electronics (20%); vehicles & transport equipment (30%) and original equipment components (15%).
Published on 2021-04-30

South Africa Trade Surplus Above Estimates
South Africa's trade surplus rose to ZAR 28.96 billion in February of 2021 from an upwardly revised ZAR 12.42 billion in the previous month and beating market consensus of a ZAR 19.5 billion surplus. Exports jumped 16.5% to ZAR 128.25 billion, mainly boosted by sales of vehicles & transport equipment (73%); machinery & electronics (26%) and base metals (25%). Meantime, imports advanced at a much slower 1.6 percent to ZAR 99.29 billion, as higher purchases of mineral products (32%) and original equipment components (16%) were partly offset by declines in those of machinery & electronics (-9%); vehicles & transport equipment (-14%) and chemical products (-12%).
Published on 2021-03-31

South Africa Posts Smallest Trade Surplus in 9 Months
South Africa's trade surplus widened to ZAR 11.83 billion in January 2021, from a revised ZAR 33.1 billion in the previous month and compared with market expectations of ZAR 15.2 billion. It was the smallest monthly trade surplus since April, as exports fell 13.6 percent due to lower sales of mineral products (-13 percent), base metals (-21 percent), machinery & electronics (-26 percent), and vehicles & transport equipment (-38 percent). Meanwhile, exports of animal & vegetable fats jumped 578 percent. Imports were up 4.2 percent, due to purchases of vegetable products (28 percent), base metals (16 percent), vehicles & transport equipment (16 percent), and original equipment components (56 percent). Imports of machinery & electronics, however, were down 4 percent.
Published on 2021-02-26

South Africa Trade Surplus Narrows in December
South Africa's trade surplus decreased to ZAR 32 billion in December of 2020 from a downwardly revised ZAR 35 billion in the prior month and missing market expectations of a ZAR 35 billion surplus. Exports fell at a faster 8.2 percent to ZAR 125.9 billion, dragged down by lower sales of precious metals & stones (-24%); vehicles & transport equipments (-24%) and prepared foodstuff (-17 percent). Meantime, imports fell 7.8 percent to ZAR 93.9 billion, amid lower acquisitions of machinery & electronics (-10%); base metals (-22%); original equipment components (-19%) and textiles (-20%). Considering the full year of 2020, the country's trade surplus widened sharply to ZAR 270.6 billion from ZAR 23.7 billion in the previous year, as exports surged 7.5% whereas imports slipped 11.8%.
Published on 2021-01-29

South Africa Trade Surplus Widens in November
South Africa's trade surplus rose to ZAR 36.7 billion in November of 2020 from a downwardly revised ZAR 34.9 billion in the previous month and beating market expectations of a ZAR 23 billion surplus. Imports declined at a faster 9.7 percent to ZAR 102 billion, dragged down by reduced acquisitions in all categories, especially original equipment components (-39 percent) and precious metals & stones (-50 percent). At the same time, exports fell 6.2 percent to ZAR 138.7 billion, amid lower shipments of precious metals & stones (-18 percent); vegetable products (-26 percent) and vehicles & transport equipment (-8 percent).
Published on 2020-12-28

South Africa Trade Surplus Widens Slightly in October
South Africa's trade surplus rose to ZAR 36.1 billion in October of 2020 from a downwardy revised ZAR 33.4 billion in the previus month. Exports advanced 10 percent over a month earlier to ZAR 149.2 billion, boosted by shipments of vehicles & transport equipment (35 percent); base metals (24 percent); precious metals & stones (22 percent) and machinery & electronics (9 percent). Meanwhile imports grew 10.5 percent to ZAR 113 billion, amid higher purchases of vehicles & transport equipment (56 percent); original eqipment components (29 percent); prepared foodstuff (28 percent) and machinery & electronics (10 percent). Sales rose mostly to the US (12.2 percent), Germany (9.1 percent) and China (8.9 percent), while acquisitions rose primarily from China (19.8 percent) and Germany (10.1 percent).
Published on 2020-11-30

South Africa Trade Surplus Narrows in September
South Africa's trade surplus shrank to ZAR 33.5 billion in September of 2020 from a downwardly revised ZAR 38.7 billion in the previous month. Imports surged 12.1 percent to ZAR 102.2 billion, mainly boosted by purchases of original equipment components (79 percent); mineral products (23 percent); chemicals (11 percent) and wood pulp & paper (31 percent). Meantime, exports advanced at a slower 4.5 percent to ZAR 135.8 billion, as higher shipments of mineral products (14 percent); machinery & electronics (11 percent) and base metals (7 percent) were partly offset by a decline in those of vegetable products (-16 percent).
Published on 2020-10-30

South Africa Posts 2nd Widest Trade Surplus on Record
South Africa's trade surplus rose to ZAR 38.9 billion in August of 2020 from a downwardly revised ZAR 37.2 billion in the previous month. It was the second-largest monthly trade surplus on record, helped by the further easing of coronavirus restrictions. Exports grew 6.6% month-over-month to ZAR 130.2 billion, driven by shipments of precious metals & stones (36%); vehicles & transport equipment (7%) and mineral products (3%). Meantime, imports advanced 7.4% to ZAR 91.4 billion, boosted by purchases of precious metals & stones (105%), original equipment components (45%); vegetable products (32%); textiles (24%) and vehicles & transport equipment (16%). Considering the first eight months of the year, the country’s trade balance shifted to a ZAR 134 billion surplus from a ZAR 4.1 billion deficit in the same period a year earlier, as exports rose 0.4% while imports slipped 15.9%.
Published on 2020-09-30

South Africa Trade Surplus Narrows in July
South Africa's trade surplus decreased to ZAR 37.4 billion in July of 2020 from a downwardly revised ZAR 45.7 billion in the previous month. Still, it was the second-largest monthly trade surplus on record, helped by the further easing of coronavirus restrictions both at home and abroad. Imports surged 22.1 percent to ZAR 85.1 billion, boosted by purchases of vehicles & transport equipment (88%); original equipment components (86%); mineral products (37%); chemicals (17%) and machinery & electronics (15%). Meantime, exports rose at a much slower 6.1 percent to ZAR 122.5 billion, as higher shipments of vehicles & transport equipment (42%) and machinery & electronics (17%) were partly offset by a decrease in those of precious metals & stones (-5 percent).
Published on 2020-08-31

South Africa Posts Largest Trade Surplus on Record
South Africa’s trade surplus widened sharply to ZAR 46.6 billion in June 2020 from an upwardly revised ZAR 19.7 billion in the previous month. It was the largest trade surplus on record, amid the easing of coronavirus lockdown restrictions locally and in key destination markets. Exports increased 10.1 percent over a month earlier to ZAR 116.3 billion, boosted by sales of vehicles & transport equipment (50%); vegetable products (38%); machinery & electronics (36%); and precious metals & stones (19%). Meantime, imports dropped 18.9 percent to ZAR 69.7 billion, due to lower purchases of original equipment components (-64%); textiles (-53%); vehicles & transport equipment (-40%); mineral products (-20%); and machinery & electronics (-8%). Considering the first half of the year, the country’s trade balance shifted to a ZAR 63.1 billion surplus from a ZAR 4.7 billion deficit in the same period a year earlier.
Published on 2020-07-31

South Africa Trade Balance Shifts to Surplus in May
South Africa posted a trade surplus of ZAR 15.9 billion in May of 2020 compared to an upwardly revised deficit of ZAR 36 billion in April and beating market expectations of a ZAR 4.7 billion deficit, due to easing restrictions locally and in key destination markets. Exports climbed 96.1 percent to ZAR 101.8 billion, amid sharp increases in shipments of machinery & electronics (427%); vehicles & transport equipment (221%); base metals (182%); precious metals & stones (162%) and mineral products (79%). Meanwhile, imports fell 2.2 percent to ZAR 85.9 billion, due to reduced purchases of mineral products (-20%); vegetables (-43%); vehicles & transport equipment (-22%) and original equipment components (-18%).
Published on 2020-06-30

South Africa Posts Largest Trade Gap on Record
South Africa recorded a trade deficit of ZAR 35 billion in April of 2020 compared to a downwardly revised ZAR 23.9 billion surplus in the previous month and against market expectations of a ZAR 10.5 billion surplus. This was the widest monthly trade shortfall on record, as the adverse effects from the global pandemic began to be felt. Exports plunged 55.1% to ZAR 53 billion, as shipments fell sharply in all categories, namely precious metals & stones (-67%); vehicles & transport equipment (-88%); mineral products (-39%);;machinery & electronics (-85%) and base metals (-64%). Meantime, imports fell at a slower 6.5%.to ZAR 381.4 billion, on lower purchases of mineral products (-30%); original equipment components (-36%) and vehicles & transport equipment (-20%).
Published on 2020-05-29

South Africa Posts Widest Trade Surplus on Record
South Africa's trade surplus rose to ZAR 24.3 billion in March of 2020 from a downwardly revised ZAR 13.7 billion in the previous month and easily beating market expectations of a ZAR 9 billion surplus. This was the largest monthly trade surplus since at least January of 1957. Exports surged 8.5 percent to ZAR 118.5 billion, boosted by sales of precious metals & stones (21 percent); prepared foodstuff (26 percent); mineral products (4 percent); vehicles & transport equipment (6 percent) and vegetable products (12 percent9. Meanwhile, imports fell 1.3 percent to ZAR 94.2 billion, as lower purchases of textiles (-35 percent) outweighed increases in those of vegetable products (48 percent); mineral products (5 percent); vehicles & transport equipment (9 percent) and original equipment components (7 percent).
Published on 2020-04-30

South Africa Posts Widest Trade Surplus since 2018
South Africa recorded a trade surplus of ZAR 14.2 billion in February of 2020, after an upwardly revised 2.7 billion deficit in the previous month and beating market expectations of a ZAR 2 billion surplus. This was the largest monthly trade surplus since December of 2018, as exports grew 8.6 percent from the prior month to ZAR 109.6 billion, boosted by shipments of vehicles & transport equipment (93%); machinery & electronics (29%) and chemicals (15%). In contrast, imports fell 7.9 percent to ZAR 95.5 billion, dragged down by lower purchases of machinery & electronics (-13%); vehicles & transport equipment (-24%); plastics & rubber (-17%); prepared foodstuff (-20%) and precious metals & stones (-31%). Sales rose mostly to Europe (28.3%) and Africa (16%) whereas acquisitions declined primarily from Asia (-6.2%), Europe (-10.9%) and Africa (-14%).
Published on 2020-03-31

South Africa Trade Deficit Lower than Expected
South Africa recorded a trade deficit of ZAR 1.87 billion in January 2020, after a downwardly revised ZAR 13.89 billion surplus in the previous month, and compared to market expectations of a ZAR 13.8 billion gap. Exports dropped 1.4 percent from the prior month to ZAR 101.41 billion, mainly due to lower sales of prepared foodstuff (-28 percent); machinery & electronics (-16 percent) and precious metals & stones (-3.0 percent). In addition, imports rose 16.1 percent to ZAR 103.28 billion, boosted by higher purchases of original equipment components (169 percent); machinery & electronics (15 percent); base metals (62 percent) and textiles (52 percent).
Published on 2020-02-28

South Africa Posts Largest Trade Surplus in a Year
South Africa's trade surplus rose to ZAR 14.8 billion in December 2019 from a downwardly revised ZAR 5.6 billion in November and overshooting market estimates of a ZAR 12 billion surplus. It was the widest monthly trade surplus since December 2018, as imports tumbled 20.1% to ZAR 88.5 billion, amid lower purchases of machinery & electronics (-23%); original equipment components (-43%); vehicles & transport equipment (-22%); chemicals (-19%) and base metals (-39%). Main import partners were China (16.9% of total acquisitions) and Germany (7.4%). Meanwhile, exports slid 11.2% to ZAR 103.3 billion, as sales fell for vehicles & transport equipment (-50%); machinery & electronics (-16%); base metals (-6%) and precious metals & stones (-3%). The only exception was recorded for vegetable products (17%). Main export partners were China (11% of total sales) and the US (7.5%). In 2019, the trade surplus rose to ZAR 24.7 billion, the highest value in two years, from ZAR 15.2 billion in 2018.
Published on 2020-01-31

South Africa Trade Surplus Larger than Forecast
South Africa's trade surplus widened to ZAR 6.10 billion in November 2019 from a downwardly revised ZAR 2.75 billion in the previous month and above market expectations of ZAR 5.00 billion. Imports slumped 7.7 percent mainly due to decline in shipments of original equipment components and chemical products, while exports fell at a softer 4.8 percent on the back of mineral products and vehicles & transport equipment.
Published on 2019-12-27

South Africa Trade Surplus Narrows in October
South Africa's trade surplus shrank to ZAR 3.09 billion in October 2019 from a downwardly revised ZAR 4.53 billion in the previous month and against market expectations of a deficit of ZAR 1.60 billion. Imports climbed 13.7 percent, mainly due to mineral products and exports rose at a softer 11.9 percent, primarily boosted by precious metals & stones.
Published on 2019-11-29