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%).
Balance of Trade in South Africa averaged 151.35 ZAR Million from 1957 until 2020, reaching an all time high of 22554.97 ZAR Million in March of 2020 and a record low of -35946.48 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 July of 2020. source: South African Revenue Service
Balance of Trade in South Africa is expected to be 7000.00 ZAR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in South Africa to stand at 10000.00 in 12 months time. In the long-term, the South Africa Balance of Trade is projected to trend around 13500.00 ZAR Million in 2021 and 27000.00 ZAR Million in 2022, according to our econometric models.