FX.co ★ South Africa Trade Surplus Shrinks in April

South Africa’s trade surplus narrowed to ZAR 15.2 billion in April 2026, down from a downwardly revised ZAR 30.2 billion in March, as import growth significantly outpaced exports. Imports jumped 11.8% to ZAR 175 billion, largely reflecting a 76% surge in mineral product purchases and a 5% rise in machinery and electronics. By contrast, exports increased by a more modest 1.8% to ZAR 191 billion, supported by a 30% spike in precious metals and stones, which helped offset declines in vegetable products (-15%), chemicals (-14%), mineral products (-5%) and transport equipment (-5%).