SA posted a trade surplus of R21.7bn in May 2025, up sharply from the downwardly revised R13bn surplus recorded in April, according to data released by the SA Revenue Service (Sars) on Monday.
This means the country exported significantly more goods than it imported in May, as shipments of gold, platinum group metals (PGMs) and citrus fruits picked up, while imports also rose on the back of crude oil and smartphones.
The surplus resulted from exports worth R175.7bn and imports of R154.1bn, inclusive of trade with Botswana, Eswatini, Lesotho and Namibia (BELN). On a month-on-month basis, exports increased by R10.5bn (6.3%) while imports climbed by R1.8bn (1.2%).
Despite the rebound, the trade balance was still slightly weaker when compared to the same period last year. On an annual basis, exports were 2.7% lower than in May 2024, when they reached R180.6bn. Imports were also down, declining by 2.5% from R158.1bn a year earlier.
The cumulative trade surplus for the first five months of this year stood at R60.3bn, below the R63.9bn recorded in the same period of 2024.
Excluding BELN trade, the surplus with the rest of the world was R10bn in May, based on exports of R158.5bn and imports of R148.5bn. This was an improvement from the R3.3bn surplus recorded in April.
Trade with BELN countries contributed an R11.7bn surplus in May, driven by R17.2bn in exports and R5.6bn in imports. Exports increased by R0.8bn (4.6%) between April and May 2025 and imports decreased by R0.1bn (2.2%) over the same period.
The April trade balance was revised downward by R1.1bn to a final surplus of R13bn due to routine vouchers of correction.
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