FX.co ★ South Africa Trade Surplus Narrows in April

South Africa's trade surplus contracted to ZAR 14.1 billion in April 2025, marking its lowest point in three months, following a downward revision of the previous month's surplus to ZAR 22.7 billion. Export figures fell by 2.5% month-on-month, totaling ZAR 166.2 billion. This decline was primarily driven by reduced shipments in vegetable products, which dropped by 18%, precious metals and stones, decreasing by 7%, and machinery and electronics, which saw a 9% decline. Regionally, exports experienced a downturn to Europe (down 6.8%), Africa (down 3.6%), and Asia (down 3.3%), although there was a significant increase in exports to Oceania and America, soaring by 58.4% and 20.6%, respectively. In contrast, imports increased by 2.9% to ZAR 152.1 billion. This rise in imports was attributed to significant upticks in the purchase of precious metals and stones, particularly diamonds, which surged by 47%, machinery and electronics, which grew by 11%, vehicles and transport equipment, notably airplanes, with a 6% rise, and original equipment components, which saw a 12% increase. These increases were sufficient to counterbalance a 14% reduction in mineral product imports.