Export Tracker - Q1 2024

South Africa’s exports continued to decline in the first quarter of 2024, after falling for two consecutive quarters. In Q1 2024, South African exports fell by 7.8% year-on-year, from R510 billion in Q1 2023 to R470 billion (in constant 2024 prices). On a quarter-to-quarter basis, exports declined by 10%, down from R525 billion in Q4 2023. This decline was mainly driven by the reduced demand from key markets such as Asia, North America, and the Middle East.