Import Tracker - Q4 2020

Although declining slightly compared to the third quarter of 2020, South Africa maintained a high trade surplus in the fourth quarter of 2020, at R103 billion. Year-on-year, this marks a more than 300% increase in the trade surplus compared to the fourth quarter of 2019. The surplus is the result of low imports and high exports (Graph 1). This has been the case over the last three quarters in particular as South Africa and its trade partners continue to respond to the COVID-19 pandemic that began in January 2020.