Export Tracker - Q2 2022

South Africa’s merchandise exports experienced a marginal decline in the second quarter of 2022, decreasing by 1.8% year-on-year to R514 billion, while they increased by 10.3% from the previous quarter (Q1 2022). The second quarter of 2022 saw imports increase by 27.7% year-on-year, amounting to R446 billion in constant rand terms, representing a 10.8% increase from the previous quarter. South Africa experienced a R68 billion (US$4.3 billion) trade surplus, a significant decline from a R174 billion surplus in the second quarter of 2021. In US dollar terms, merchandise exports were down by 4.9% from Q2 2021, amounting to US$33.1 billion, although they increased by 9.6% from the previous quarter. Imports were up 23.6% to R28.7 billion, an increase of 10.1% from Q1 2022.