South Africa Records Trade Surplus of R15.6 Billion in October
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South Africa recorded a preliminary trade surplus of R15.6 billion in October 2025, according to the latest figures from SARS. This comes from total exports of R192.2 billion and imports of R176.6 billion, including trade with Botswana, Eswatini, Lesotho, and Namibia (BELN).
Key Highlights
Exports rose by 2.8% from September to October, driven by strong performances in gold, diamonds, and unwrought aluminium.
Imports grew by 7.2%, mainly due to higher imports of crude oil, refined petroleum, and original equipment components.
The trade surplus for the year to date stands at R142.7 billion, slightly down from R148.1 billion in the same period last year.
South Africa’s trade with the BELN region contributed a R12.1 billion surplus in October, with both exports and imports rising 11% compared to September.
Regional Performance
The surplus with Africa (excluding BELN) stood at R18.9 billion, with exports up by 6.7% and imports up by 26.9%.
A notable trade deficit was recorded with Asia, amounting to R39.9 billion, due to high import volumes.
Exports to Europe dropped by 4.1%, while imports declined by 3.5%, leaving a surplus of R2.2 billion.
Why This Matters for Business Accountants
For accountants in practice and commerce, these trends signal:
✅ More advisory opportunities around import costs, VAT, and cash flow
✅ Strong regional trade (especially with BELN) means cross-border tax and compliance advice is key
✅ Import surges and narrowing surplus highlight currency and inflation risks your clients need to manage.
Conclusion
While South Africa continues to maintain a trade surplus, the shrinking year-to-date gap and increased import growth suggest pressure from rising input costs, particularly energy-related. However, the continued strength in mineral and precious metal exports is a positive sign for overall export resilience.
For more information read the Media Release, or visit the Trade Statistics webpage.
