South Africa’s trade surplus rose slightly to ZAR 24.76 billion in July of 2022 from ZAR 24.23 billion in the previous month. Imports declined 5% month-over-month to ZAR 152.47 billion amid reduced purchases of mineral products (-17%), vehicles & transport equipment (-7%), base metals (-6%) and original equipment components (-6%). Top import partners were China (19.9% of total purchases), India (7.8%), Germany (7.3%) and the US (6.9%). Meanwhile, exports fell by a softer 4.1% to ZAR 177.23 billion, due to lower shipments of precious metals & stones (-17%), mineral products (-2%) and vehicles & transport equipment (-4%). Conversely, increases were observed for machinery & electronics (11%) and vegetable products (7%). The main export partners were China (12.3% of total shipments), the US (8.1%) and Germany (7.6%). source: South African Revenue Service
Balance of Trade in South Africa averaged 1221.07 ZAR Million from 1957 until 2022, reaching an all time high of 53860.75 ZAR Million in March of 2021 and a record low of -36047.79 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 September of 2022.
Balance of Trade in South Africa is expected to be 26000.00 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 35000.00 ZAR Million in 2023 and 18000.00 ZAR Million in 2024, according to our econometric models.