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Balance of trade · South Africa

South Africa Balance of Trade

The South Africa Balance of Trade shows the difference between the value of goods (and sometimes services) that South Africa sells abroad and what it buys from abroad, or the growth of exports and imports.

Importance
Low
Released
Monthly
Next release
Currency
ZAR · South African rand
Central bank
The South African Reserve Bank
Moves
EURZAR# · USDZAR

Latest figures

The latest release for SEP, published on 30 October 2026, came in at ZAR19.8B.

ReleasedForActualConsensusPrevious
30 Oct 2026SEPZAR19.8B–ZAR18.97B ®
30 Sep 2026AUGZAR20.47B–ZAR18.04B ®
31 Aug 2026JULZAR20.14B–ZAR17.23B ®
31 Jul 2026JUNZAR17.75B–ZAR4.44B ®
30 Jun 2026MAYZAR-1.79B–ZAR14.43B ®
29 May 2026APRZAR15.16B–ZAR30.21B ®
30 Apr 2026MARZAR31.87B–ZAR35.86B ®
31 Mar 2026FEBZAR36.92B–ZAR8.5B ®
27 Feb 2026JANZAR9.31B–ZAR22.38B ®
30 Jan 2026DECZAR23.18B–ZAR37.92B ®
31 Dec 2025NOVZAR 37.7B–ZAR15B ®
28 Nov 2025OCTZAR15.58B–ZAR22.25B ®

See it in the economic calendar →

Why it matters

Exports are a big part of demand for open economies (Germany, China, Japan, Korea, the Netherlands). A larger surplus means more foreign demand for the South African rand; strong imports signal domestic demand. China's figures are read as a gauge of world demand.

How it is calculated

Customs records the value of goods crossing the border; services come from surveys. The balance is exports minus imports, usually seasonally adjusted.

Trade balance = exports − imports

What changes mean

  • Look at exports and imports separately: a wider surplus from collapsing imports is a sign of weak domestic demand, not strength.
  • Exchange-rate moves take months to affect trade volumes (the J-curve).

Higher than expected: A larger surplus (or smaller deficit) than expected tends to support the South African rand.

Lower than expected: A smaller surplus (or larger deficit) than expected tends to weigh on the South African rand.

A short history

Trade balances were the obsession of mercantilism in the 16th–18th centuries; David Hume's price-specie flow mechanism (1752) explained why surpluses tend to correct themselves.

Questions

What is the South Africa Balance of Trade?

The South Africa Balance of Trade shows the difference between the value of goods (and sometimes services) that South Africa sells abroad and what it buys from abroad, or the growth of exports and imports.

What was the latest South Africa Balance of Trade?

ZAR19.8B for SEP, published on 30 October 2026.

When is the next South Africa Balance of Trade?

On Monday 30 November 2026 at 12:00 UTC.

Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.