South Africa’s agricultural trade surplus reached a record US$1.55 billion in the first quarter of 2026, reflecting continued strength in the country’s farm trade despite slower export growth. According to AgriSA, the surplus increased by 16.1% compared with the same period a year earlier.
The record surplus was driven mainly by a decline in agricultural imports rather than a major rise in exports. Agricultural exports stood at US$3.30 billion, almost unchanged from the previous year, while imports fell by 10.6% to US$1.76 billion. Lower import prices for products such as palm oil, rice, frozen fish and coffee contributed to the decline.
Horticulture remained the strongest pillar of South Africa’s agricultural trade performance. The subsector accounted for 55% of total agricultural exports in the first quarter, its highest first-quarter share on record. Grapes, pome fruit, stone fruit and wine helped horticultural exports reach US$1.82 billion.
AgriSA estimated that horticulture generated a trade surplus of about US$1.66 billion, which was higher than the country’s overall agricultural trade surplus. This highlights the sector’s central role in supporting South Africa’s positive agricultural trade balance.
Performance was weaker in animal products, where exports declined by 12.9% to US$322 million due to market closures linked to foot-and-mouth disease. Maize export values also fell by 22.4% to US$194 million, even though export volumes increased, as lower market prices reduced overall earnings.
The Netherlands and the United Kingdom remained South Africa’s largest agricultural export markets, jointly accounting for US$978 million in exports. Other important markets included Zimbabwe, Namibia, Mozambique and Botswana.
South Africa’s agricultural exports reached US$15 billion in 2025, marking the seventh consecutive year of export growth. The strong start to 2026 suggests that the sector could record another positive year if horticulture remains resilient and livestock exports recover.
Future export performance will depend partly on managing sanitary risks, especially foot-and-mouth disease, so that livestock trade can resume in high-value markets in the Middle East and Asia. Strong horticulture shipments and better returns from products such as maize could further support South Africa’s agricultural trade outlook in 2026.
