Export Tracker - Q2 2024

In Q2 2024, exports increased 12% quarter-on-quarter, rising from R466 billion to R523 billion, mostly driven by exports to Areas Not Elsewhere Specified (Area NES), Germany and India. However, on a year-on-year (y-o-y) basis, exports declined marginally by 1.3% from R530 billion in Q2 2023 (constant 2024 prices) to R523 billion in the same quarter of 2024. The quarterly export growth in Q2 2024 outpaced that of imports, which saw imports increase by 3% quarter-on-quarter from R454 billion to R468 billion. As a result, the trade balance in Q4 2024 remained positive for the fifth consecutive quarter. The trade balance in Q2 2024 saw a significant 358% increase from the previous quarter, rising from R12 billion in Q1 2024 to R55 billion. On a y-o-y basis, the trade balance in Q2 2024 surged by 450%.