31 March 2023
South Africa’s preliminary trade balance surplus for February 2023 is R16.1 billion, with R154.3 billion in exports and R138.2 billion in imports.
However, the year-to-date trade balance deficit for January and February 2023 is R6.6 billion, compared to a R17.1 billion surplus for the same period last year.
In February, exports increased by 7.9% and imports increased by 5.8% compared to February 2022. Month-to-month, exports rose by 10.7% and imports fell by 14.8% between January and February 2023. The rebound in exports was driven by passenger and goods vehicles as OEMs returned to full production, while imports were down due to lower importation of crude oil and petroleum oils. The preliminary trade balance deficit of R23.1 billion announced for January was revised downwards to R22.7 billion due to ongoing Vouchers of Correction (VOC).
Read the Media Release here.
Visit the Trade Statistics Webpages here.
