FX.co ★ South Africa Trade Surplus Rises in May

In May 2025, South Africa achieved a trade surplus of ZAR 21.7 billion, an improvement from the previously adjusted ZAR 13 billion in April. This was largely attributed to a 6.3% month-on-month increase in exports, reaching a six-month peak of ZAR 176 billion. Key contributors to this surge included precious metals and stones, with gold and PGMs leading the way at a sharp 30% increase; vegetable products rose by 17%; citrus fruits and base metals each grew by 12%; and machinery and electronics saw an 11% rise. The export growth was notable in regions such as Europe with a 14% increase, Africa at 4.6%, and Asia at 3.2%. However, exports to Oceania and America experienced declines of 44.5% and 4.2%, respectively. On the import front, there was a modest 1.2% increase to ZAR 154 billion. The rise was primarily driven by mineral products, notably crude oil at 13%, base metals such as artificial corundum at 9%, and original equipment components at 6%. These increases were partially counterbalanced by decreases in vegetable products at 28% and machinery and electronics at 4%. Import figures showed an upswing from Africa by 32.3% and Oceania by 11.8%, but recorded drops from America by 3.4%, Asia by 1.9%, and Europe by 2.2%.