South Africa Balance of Trade1957-2021 Data | 2022-2023 Forecast | Calendar

The trade surplus in South Africa shrank to ZAR 36.96 billion in July of 2021, compared to a downwardly revised ZAR 54.5 billion in June and below market expectations of ZAR 45 billion. It was the smallest trade surplus since February, as exports slipped 11.2% to a five-month low of ZAR 145.01 billion, weighed down by fewer shipments of precious metals & stones (-16%), chemical products (-21%), base metals (-9%), machinery & electronics (-9%) and vehicles & transport equipment (-20%). Among top trading partners, sales fell to Europe (-26.5%), Africa (-5.8%) and America (-8.6%), but rose to Asia (1.9%). Meanwhile, imports went down 0.7% to a five-month low of ZAR 108.04 billion, with declines seen in wood pulp & paper (-30%) and base metals (-21%). Imports from Asia, the most relevant origin of imports, fell 1.5%.

The trade surplus in South Africa widened to a record high of ZAR 57.68 billion in June of 2021, well above market forecasts of ZAR 52 billion. Exports were up 2% to ZAR 166.5 billion, mainly boosted by sales of precious metals and stones (7%), base metals (9%), chemicals (23%) and vegetable products (10%) while shipments of vehicles declined 31%. Most exports went to the US, China, Germany, the UK and Japan. Imports were little changed at ZAR 108.8 billion, with main declines seen for purchases of mineral products (-11%), vehicles and transport equipment (-15%). Most imports came from China, the US, Germany, India and Italy. Considering the first half of 2021, exports were up 51% and imports 19.3%, resulting in a trade surplus of ZAR 255.6 billion.

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%).

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.