FX.co ★ South Africa Trade Surplus Narrows in December

In December 2025, South Africa's trade surplus decreased to ZAR 23.2 billion, down from an upwardly revised ZAR 37.9 billion in November. This contraction was driven by a more pronounced decline in exports compared to imports. Export figures fell by 12.5% month-over-month, reaching a ten-month low of ZAR 164.3 billion. This reduction was primarily attributed to significant decreases in the shipments of vehicles and transport equipment (-39%), precious metals and stones (-26%), and base metals (-8%). On the other hand, imports saw a 5.8% reduction, totaling ZAR 141.1 billion.