PRETORIA – Preliminary trade statistics released by the South African Revenue Service (South African Revenue Service) show that South Africa recorded a trade balance deficit of R1.8 billion in May 2026.

The deficit was attributable to exports of R178.8 billion and imports of R180.6 billion, inclusive of trade with Botswana, Eswatini, Lesotho and Namibia (BELN).

Despite the monthly deficit, the year-to-date (01 January to 31 May 2026) preliminary trade balance reflected a surplus of R85.8 billion, which is higher than the R60.1 billion surplus recorded for the comparable period in 2025.

On a year-on-year basis, export flows for May 2026 (R178.8 billion) increased by 2.7% compared with R174.2 billion recorded in May 2025. Import flows increased by 17.3%, rising from R153.9 billion in May 2025 to R180.6 billion in the current period.

On a month-on-month basis, exports decreased by R10.8 billion (-5.7%) from R189.7 billion in April to R178.8 billion in May 2026, while imports increased by R5.4 billion (3.1%) from R175.2 billion to R180.6 billion over the same period.

According to the revenue service, the decline in exports was driven mainly by lower shipments of gold, platinum group metals (PGMs), and motor vehicles (passengers), while higher imports were driven by crude oil, original equipment components, and motor vehicles (passengers).

The agency also noted that due to ongoing Vouchers of Correction (VOCs), the preliminary trade balance surplus of R15.2 billion previously announced for April 2026 was revised downwards by R0.7 billion, resulting in a final figure of R14.4 billion.