Import Tracker Q4 2024

South Africa maintained a trade surplus in the fourth quarter of 2024. At R64 billion, the surplus was more than double the surplus from the fourth quarter 2023, which amounted to R22 billion, in real terms. The surplus was also higher than the third quarter of 2024, which amounted to R35 billion. Nevertheless, overall trade declined in the year to the fourth quarter of 2024, with exports declining by 3% to R519 billion, and imports declining by 11% to R455 billion in the same period. The decline in imports was mainly due to a decline in imports of petroleum products, with diesel and crude oil imports declining by R24 billion and R12 billion respectively.