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%). source: South African Revenue Service
Balance of Trade in South Africa averaged 747.05 ZAR Million from 1957 until 2021, reaching an all time high of 54597.72 ZAR Million in May of 2021 and a record low of -36108.92 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 2021.
Balance of Trade in South Africa is expected to be 67000.00 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 28000.00 in 12 months time. In the long-term, the South Africa Balance of Trade is projected to trend around 40000.00 ZAR Million in 2022 and 31300.00 ZAR Million in 2023, according to our econometric models.