South Africa's trade surplus decreased to ZAR 32 billion in December of 2020 from a downwardly revised ZAR 35 billion in the prior month and missing market expectations of a ZAR 35 billion surplus. Exports fell at a faster 8.2 percent to ZAR 125.9 billion, dragged down by lower sales of precious metals & stones (-24%); vehicles & transport equipments (-24%) and prepared foodstuff (-17 percent). Meantime, imports fell 7.8 percent to ZAR 93.9 billion, amid lower acquisitions of machinery & electronics (-10%); base metals (-22%); original equipment components (-19%) and textiles (-20%). Considering the full year of 2020, the country's trade surplus widened sharply to ZAR 270.6 billion from ZAR 23.7 billion in the previous year, as exports surged 7.5% whereas imports slipped 11.8%. source: South African Revenue Service
Balance of Trade in South Africa averaged 486.10 ZAR Million from 1957 until 2020, reaching an all time high of 46101.95 ZAR Million in June of 2020 and a record low of -35969.98 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 February of 2021.
Balance of Trade in South Africa is expected to be -1258.00 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 -1542.00 in 12 months time. In the long-term, the South Africa Balance of Trade is projected to trend around -1542.00 ZAR Million in 2022 and 12500.00 ZAR Million in 2023, according to our econometric models.