South Africa recorded a preliminary trade balance surplus of R20.9-billion in February, attributable to exports of R164-billion and imports of R143.1-billion, inclusive of trade with Botswana, Eswatini, Lesotho and Namibia (BELN).

From January 1 to February 28, the preliminary trade balance surplus of R4.1-billion was a deterioration from the R14.2-billion trade balance surplus for the comparable period in 2024, the South African Revenue Service (Sars) says.

Export flows for February, of R164-billion, were 0.5% higher than the R163.2-billion recorded in February 2024.

Import flows were lower by 1.5% year-on-year, having decreased from R145.3-billion in February 2024 to R143.1-billion in the current period.

Exports increased by R15.4-billion, or 10.4%, to R164-billion from R148.6-billion between January and February, while imports decreased by R22.3-billion, or 13.5%, to R143.1-billion from R165.4-billion.

Further, export flows increased in February, driven by gold and vehicles. Import flows decreased on the back of lower importation of original equipment components, vehicles, and crude oil.

Excluding trade data with BELN, South Africa’s trade with the rest of the world for February indicates a preliminary trade balance surplus of R10.1-billion for February as a result of exports of R147.3-billion and imports of R137.2-billion.

Exports with the rest of the world, excluding BELN, for February increased by R14.7-billion, or 11.1%, between January and February 2025, while imports decreased by R22.5-billion, or 14.1%.

The preliminary cumulative trade balance with the rest of the world excluding BELN for 2025 was a deficit of R17-billion, compared to R5.8-billion trade balance deficit for the corresponding period in 2024.

Meanwhile, South Africa’s trade with the BELN countries for February 2025 shows a preliminary trade balance surplus of R10.8-billion, as a result of exports of R16.8-billion and imports of R5.9-billion.

Exports to BELN increased by R700-million, or 4.5%, between January and February, and imports from BELN increased by R200-million, or 4.1%, over the same period.

The preliminary cumulative trade balance for trade with BELN for 2025, to date, was a surplus of R21.1-billion, compared with R20.1-billion in 2024.

Meanwhile, owing to ongoing Vouchers of Correction, the preliminary trade balance deficit of R16.4-billion announced for January 2024 was revised upwards by R400-million, with the final deficit at R16.8-billion, Sars adds.