South Africa's trade surplus decreased to ZAR 37.4 billion in July of 2020 from a downwardly revised ZAR 45.7 billion in the previous month. Still, it was the second-largest monthly trade surplus on record, helped by the further easing of coronavirus restrictions both at home and abroad. Imports surged 22.1 percent to ZAR 85.1 billion, boosted by purchases of vehicles & transport equipment (88%); original equipment components (86%); mineral products (37%); chemicals (17%) and machinery & electronics (15%). Meantime, exports rose at a much slower 6.1 percent to ZAR 122.5 billion, as higher shipments of vehicles & transport equipment (42%) and machinery & electronics (17%) were partly offset by a decrease in those of precious metals & stones (-5 percent).
Balance of Trade in South Africa averaged 264.85 ZAR Million from 1957 until 2020, reaching an all time high of 45731 ZAR Million in June of 2020 and a record low of -35946.48 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 September of 2020. source: South African Revenue Service
Balance of Trade in South Africa is expected to be 7000.00 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 10000.00 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 27000.00 ZAR Million in 2022, according to our econometric models.