Import Tracker Q1 2024

South Africa had a trade surplus of R11 billion in the first quarter of 2024, up from a deficit of R5 billion in the first quarter 2023, but lower than the R22 billion surplus recorded in the fourth quarter of 2023. Both imports and exports declined in the year to the first quarter of 2024, with imports falling from R514 billion to R458 billion while exports declined from R509 billion to R469 billion. This decline continues a downward trend from the fourth quarter 2023. Since 2020 imports have increased by 27%, while exports increased by 16% between the first quarters of 2020 and 2024.