South Africa recorded a trade deficit of ZAR 35 billion in April of 2020 compared to a downwardly revised ZAR 23.9 billion surplus in the previous month and against market expectations of a ZAR 10.5 billion surplus. This was the widest monthly trade shortfall on record, as the adverse effects from the global pandemic began to be felt. Exports plunged 55.1% to ZAR 53 billion, as shipments fell sharply in all categories, namely precious metals & stones (-67%); vehicles & transport equipment (-88%); mineral products (-39%);;machinery & electronics (-85%) and base metals (-64%). Meantime, imports fell at a slower 6.5%.to ZAR 381.4 billion, on lower purchases of mineral products (-30%); original equipment components (-36%) and vehicles & transport equipment (-20%).
Balance of Trade in South Africa averaged 133.52 ZAR Million from 1957 until 2020, reaching an all time high of 23938.24 ZAR Million in March of 2020 and a record low of -35015.11 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 June of 2020. source: South African Revenue Service
Balance of Trade in South Africa is expected to be -9300.00 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 12000.00 in 12 months time. In the long-term, the South Africa Balance of Trade is projected to trend around -1542.00 ZAR Million in 2021 and 12000.00 ZAR Million in 2022, according to our econometric models.