South Africa recorded a trade deficit of ZAR 4.3 billion in October of 2022, compared with an upwardly revised surplus of ZAR 26.2 billion in the prior month and defying market forecasts of a ZAR 16.85 billion surplus. It was the first monthly trade shortfall since April of 2020, as exports tumbled 17% month-over-month to a six-month low of ZAR 159.6 billion, amid lower shipments for all categories, primarily mineral products (-20%), wood pulp & paper (-63%) and vegetable products (-34%). Top export partners were the US (9.7% of total overseas sales), China (7.4%) and Germany (5.8%). Meanwhile, imports decreased at a softer 1.3% to ZAR 163.9 billion, as reduced acquisitions of chemical products (-10%), plastics & rubber (-18%), textiles (-17%) and vehicles & transport equipment (-8%) were partly offset by the increase in mineral products (14%). The main import partners were China (18.5% of total purchases), India (7.9%) and the US (7.2%). source: South African Revenue Service
Balance of Trade in South Africa averaged 1232.83 ZAR Million from 1957 until 2022, reaching an all time high of 53870.45 ZAR Million in March of 2021 and a record low of -36047.86 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 December of 2022.
Balance of Trade in South Africa is expected to be -28000.00 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 5000.00 ZAR Million in 2023 and 3000.00 ZAR Million in 2024, according to our econometric models.