Trade surplus in July 2026

South Africa recorded a preliminary trade balance surplus of R20.1 billion in July 2026, driven by trade with Botswana, Eswatini, Lesotho and Namibia(BELN), according to the South African Revenue Service(SARS). In a statement, SARS said the surplus was the result of exports worth R194.0 billion and imports amounting to R173.8 billion, including trade with BELN countries​.

The year-to-date preliminary trade balance surplus, from 1 January to 31 July 2026, was R130.9 billion, higher than the R100.6 billion surplus recorded during the comparable period in 2025​.

On a year-on-year basis, export flows for July 2026 were 5.8% higher at R194.0 billion, compared with R183.3 billion recorded in July 2025​. Import flows also increased by 5.8%, from R164.3 billion in July 2025 to R173.8 billion in the current period, SARS said​.

On a month-on-month basis, exports increased by R1.5 billion, or 0.8%, from R192.5 billion in June to R194.0 billion in July 2026​. Imports decreased by R1.4 billion, or 0.8%, from R175.2 billion to R173.8 billion over the same period​.

Drivers of trade

SARS attributed export growth in July 2026 to motor vehicles for passengers, manganese ores and concentrates, and coal​. Import flows declined mainly because of lower imports of petroleum oils, excluding crude; crude oil; and telephone sets, including smartphones​.

Due to ongoing corrections, the preliminary trade balance surplus of R17.8 billion announced for June 2026 was revised downwardsby R0.5 billion, leaving a final surplus of R17.2 billion, the revenue service said​.

Trade excluding BELN

South Africa's trade with the rest of the world, excluding BELN countries, recorded a preliminary trade balance surplus of R9.1 billion in July 2026​. The R9.1 billion surplus resulted from exports of R176.7 billion and imports of R167.6 billion​. Exports increased by R0.7 billion, or 0.4%, between June and July 2026, while imports decreased by R1.9 billion, or 1.1%, excluding BELN countries​.

The preliminary cumulative trade balance for 2026 was a surplus of R61.1 billion, compared with a R24.3 billion surplus for the corresponding period in 2025​.

Base metals performance

In July, the value of South Africa's exports of base metals and articles thereof totaled ZAR 13.03 billion ($765.57 million), down 9.8 percent from June​. In the January-July period, South Africa's export value of base metals and articles thereof went down by 7.5 percent year on year to ZAR 95.56 billion ($5.61 billion​).

On the imports side, in July, South Africa's imports of base metals and articles thereof amounted to ZAR 9.21 billion ($541.41 million​), increasing by 10.2 percent from the previous month​. In the first seven months of 2026, South African imports of base metals and articles thereof moved up by 0.5 percent year on year to ZAR 56.80 billion ($3.34 billion​) compared to the same period of 2025​.