FX.co ★ South Africa Trade Surplus Narrows in March

South Africa's trade surplus narrowed to ZAR 31.9 billion in March 2026 from a downwardly revised ZAR 35.9 billion in February, as import growth outpaced that of exports. Imports rose 18.4% month-on-month to ZAR 156 billion, led by mineral products (up 11%), chemical products (20%), machinery and electronics (15%), vehicles and transport equipment (24%), and original equipment components (39%). Exports increased 12.1% to ZAR 188 billion, supported primarily by higher sales of mineral products (29%), chemical products (28%), vehicles and transport equipment (17%), and machinery and electronics (16%).