South Africa's trade surplus rose to ZAR 37.7 billion in November 2025, the largest since March 2022, up from a downwardly revised ZAR 15 billion in the prior month. Imports tumbled 14.9% month-over-month to a five-month low of ZAR 150 billion, with four of the five main product sections posting declines, led by original equipment components (-51%). Purchases also fell significantly for mineral products (-24%); vehicles & transport equipment (-19%) and chemical products (-18%). Meanwhile, exports fell at a softer 1.9% to ZAR 188 billion, as reduced shipments of vegetable products (-37%) and base metals (-9%) were offset by increases in optical photographic products (90%), mineral products (6%) and vehicles & transport equipment (5%).