PRETORIA – South Africa recorded a preliminary trade surplus of R37.7 billion in November 2025, according to the South African Revenue Service (SARS). The surplus was driven by exports of R188.0 billion, while imports totalled R150.3 billion, including trade with BELN countries.

Although exports were 4.5% higher year-on-year, the year-to-date trade surplus slipped slightly to R178.8 billion, compared to R182.5 billion over the same period in 2024. On a monthly basis, both exports and imports declined, with imports falling sharply by 14.9%, mainly due to reduced petroleum oil, vehicle and equipment imports.

Exports dipped in November due to lower shipments of citrus fruit, unwrought aluminium and gold. SARS also revised October’s trade surplus down to R15.0 billion, following ongoing corrections.