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South Africa Trade Surplus Narrows in December

2 February 2021 – South Africa’s trade surplus decreased to ZAR32-billion in December of 2020 from a downwardly revised ZAR35-billion in the prior month and missing market expectations of a ZAR35-billion surplus. Exports fell at a faster 8.2% to ZAR125.9-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% to ZAR93.9-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 ZAR270.6-billion from ZAR23.7-billion in the previous year, as exports surged 7.5% whereas imports slipped 11.8%.

Forecast

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, it is estimated 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 trading economics econometric models.

Stats

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. Source (Tradeeconomics.com)