South Africa recorded a preliminary trade balance surplus of R20.3 billion ($1.1 billion) in July 2025, according to the South African Revenue Service (SARS). The surplus was driven by exports totaling R184.3 billion, outpacing imports of R164.0 billion, inclusive of trade with Botswana, Eswatini, Lesotho, and Namibia (BELN).
The July surplus contributes to a year-to-date trade balance surplus of R98.9 billion for 2025, down from R113.7 billion for the same period in 2024. On a year-on-year basis, exports in July 2025 rose by 3.1%, from R178.7 billion in July 2024 to R184.3 billion, while imports increased by 4.5%, from R157.0 billion to R164.0 billion.
Month-on-month, exports saw a robust increase of R14.5 billion, or 8.5%, from R169.8 billion in June 2025, fueled by strong performances in citrus fruit, unwrought aluminium, and manganese ores and concentrates. Imports grew by R15.2 billion, or 10.2%, from R148.8 billion, driven by higher imports of petroleum oils (excluding crude), mineral or chemical fertilizers, and crude oil.
SARS also noted that ongoing Vouchers of Correction (VOCs) led to a downward revision of the June 2025 trade surplus by R1.1 billion, adjusting the final figure from R22.0 billion to R21.0 billion.
The data reflects South Africa’s continued strength in export-driven growth, particularly in agricultural and mineral sectors,
