South Africa trade deficit widened to ZAR 5.55 billion in October of 2018 from a downwardly revised ZAR 3.83 billion in the previous month and compared with market expectations of a ZAR 2.25 billion shortfall. It was the largest trade gap since January, as imports rose faster than exports. Considering the first ten months of the year, the country posted a ZAR 8.82 billion deficit. Balance of Trade in South Africa averaged 95.24 ZAR Million from 1957 until 2018, reaching an all time high of 18730.94 ZAR Million in May of 2016 and a record low of -27100 ZAR Million in January of 2018.

Balance of Trade in South Africa is expected to be 472.00 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 -1407.75 in 12 months time. In the long-term, the South Africa Balance of Trade is projected to trend around -1700.00 ZAR Million in 2020, according to our econometric models.

South Africa Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2018-08-31 12:00 PM Balance of Trade ZAR-4.7B ZAR11.9B ZAR5.4B ZAR 5.6B
2018-09-28 12:00 PM Balance of Trade ZAR8.8B ZAR-5.3B ZAR5B ZAR 0.82B
2018-10-31 12:00 PM Balance of Trade ZAR-2.95B ZAR8.77B ZAR4B ZAR 7.3B
2018-11-30 12:00 PM Balance of Trade ZAR-5.55B ZAR-3.83B ZAR-2.25B ZAR -2.6B
2018-12-28 12:00 PM Balance of Trade ZAR-5.55B ZAR 0.21B
2019-01-31 12:00 PM Balance of Trade ZAR 0.47B
2019-01-31 12:00 PM Balance of Trade ZAR 0.47B



South Africa Trade Gap Largest in 9 Months


South Africa trade deficit widened to ZAR 5.55 billion in October of 2018 from a downwardly revised ZAR 3.83 billion in the previous month and compared with market expectations of a ZAR 2.25 billion shortfall. It was the largest trade gap since January, as imports rose faster than exports. Considering the first ten months of the year, the country posted a ZAR 8.82 billion deficit.

Imports increased 9.7 percent month-over-month to ZAR 127.87 billion, mainly driven by higher purchases of vehicles and transport equipment (35 percent); chemical products (21 percent); original equipment components (11 percent); and machinery and electronics (8 percent). Meanwhile, imports declined for mineral products (-7 percent). Main import partners were: China (19.1 percent of total imports), Germany (9.1 percent), Saudi Arabia (6.7 percent), the US (5.7 percent) and Nigeria (4.9 percent).

Exports advanced 8.5 percent month-over-month to ZAR 122.32 billion, boosted by higher sales of mineral products (15 percent); vehicles and transport equipment (14 percent); prepared foodstuff (35 percent); and machinery and electronics (18 percent). On the other hand, exports dropped for vegetable products (-30 percent) and other unclassified (-59 percent). The most important export partners were: China (9.7 percent of total exports), Germany (9.4 percent), the US (6 percent), the UK (5.6 percent) and Japan (4.8 percent).

Excluding trade with neighboring Botswana, Lesotho, Namibia and Swaziland, the country recorded a trade gap of ZAR 12.97 billion in October.


South African Revenue Service | Stefanie Moya | stefanie.moya@tradingeconomics.com
11/30/2018 12:29:01 PM


Recent Releases

South Africa Trade Balance Swings to Deficit in September
South Africa trade balance shifted to a ZAR 2.95 billion deficit in September of 2018 from a downwardly revised ZAR 8.77 billion surplus and well below market expectations of a ZAR 4.0 billion surplus. It was the smallest trade gap since February. Considering the January to September period, the country posted a ZAR 0.33 billion gap.
Published on 2018-10-31

South Africa Trade Balance Swings to Surplus in August
South African trade balance shifted to a ZAR 8.79 billion surplus in August of 2018 from an upwardly revised ZAR 5.29 bilion deficit in July and above market expectations of a ZAR 5 billion surplus. Considering the January to August period, the country posted a ZAR 2.66 billion surplus.
Published on 2018-09-28

South Africa Trade Balance Swings to Deficit in July
South Africa trade balance shifted to a ZAR 4.66 billion deficit in July of 2018 from a downwardly revised ZAR 11.89 billion surplus in the previous month and well below market consensus of a ZAR 5.4 billion surplus. It was the largest trade deficit since January, as exports fell while imports picked up. Considering the first seven months of the year, the country recorded a trade deficit of ZAR 6.51 billion.
Published on 2018-08-31

South Africa Trade Surplus Largest in 6 Months
South Africa trade surplus widened to ZAR 12.0 billion in June of 2018 from an upwardly revised ZAR 3.84 billion in the previous month and well above market expectations of a ZAR 5.0 billion surplus. It was the largest trade surplus since December last year, as exports rose and imports fell. Considering the first half of the year, the country recorded a trade deficit of ZAR 1.79 billion.
Published on 2018-07-31



South Africa Trade Last Previous Highest Lowest Unit
Balance of Trade -5549.90 -3826.40 18730.94 -27100.00 ZAR Million [+]
Exports 122323.90 112792.10 122323.90 55.80 ZAR Million [+]
Imports 127873.80 116618.40 127873.80 66.10 ZAR Million [+]
Current Account -176577.00 -167380.00 15627.00 -246452.00 ZAR Million [+]
Current Account to GDP -2.50 -2.80 6.00 -7.50 percent [+]
External Debt 170811.00 183239.00 183239.00 33262.00 USD Million [+]
Tourist Arrivals 1293615.00 1331118.00 1598893.00 37430.00 [+]
Gold Reserves 125.30 125.30 183.51 123.48 Tonnes [+]
Terrorism Index 4.09 3.53 4.23 0.22 [+]
Weapons Sales 74.00 65.00 235.00 1.00 USD Million [+]
Crude Oil Production 2.00 2.00 58.00 2.00 BBL/D/1K [+]
Foreign Direct Investment 1863.00 1961.00 2101.00 1.00 ZAR Billion [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



South Africa Balance of Trade

In 2017, South Africa recorded the biggest trade deficits with China, Saudi Arabia, Germany, Thailand, France, Nigeria, Italy and Brazil and the biggest trade surpluses with Botswana, Namibia, Zambia, Zimbabwe, Mozambique, Belgium and Netherlands. 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 - actual data, historical chart and calendar of releases - was last updated on December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-5549.90 -3826.40 18730.94 -27100.00 1957 - 2018 ZAR Million Monthly




Country Last Previous
Argentina 277.00 Oct/18
Australia 2316.00 Oct/18
Brazil 4062.09 Nov/18
Canada -1165.20 Oct/18
China 447.40 Nov/18
Euro Area 13141.70 Sep/18
France -4052.00 Oct/18
Germany 18300.00 Oct/18
India -17130.00 Oct/18
Indonesia -1819.90 Oct/18
Italy 1274.37 Sep/18
Japan -449.26 Oct/18
Mexico -2936.00 Oct/18
Netherlands 4949.00 Sep/18
Russia 18485.00 Sep/18
Saudi Arabia 162782.00 Jun/18
Singapore 4520.91 Oct/18
South Africa -5549.90 Oct/18
South Korea 5139.00 Nov/18
Spain -3297100.00 Sep/18
Switzerland 2637.00 Oct/18
Turkey -456.10 Oct/18
United Kingdom -3300.00 Oct/18
United States -55488.00 Oct/18


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