South Africa's trade surplus widened to ZAR 6.10 billion in November 2019 from a downwardly revised ZAR 2.75 billion in the previous month and above market expectations of ZAR 5.00 billion. Imports slumped 7.7 percent mainly due to decline in shipments of original equipment components and chemical products, while exports fell at a softer 4.8 percent on the back of mineral products and vehicles & transport equipment. Balance of Trade in South Africa averaged 116.74 ZAR Million from 1957 until 2019, reaching an all time high of 17088.51 ZAR Million in May of 2016 and a record low of -26858.70 ZAR Million in January of 2018. source: South African Revenue Service
Balance of Trade in South Africa is expected to be 2000.00 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 19700.00 in 12 months time. In the long-term, the South Africa Balance of Trade is projected to trend around 20700.00 ZAR Million in 2020, according to our econometric models.
South Africa Balance of Trade
In 2017, South Africa recorded the biggest trade deficits with China, Saudi Arabia, Germany, Thailand, France, Nigeria, Italy and Brazil and the biggest trade surpluses with Botswana, Namibia, Zambia, Zimbabwe, Mozambique, Belgium and Netherlands.