South Africa achieved a record agricultural trade surplus of $1.55 billion during the first quarter of 2026, marking a 16.1% increase compared to the same period in the previous year. According to agricultural union AgriSA, the strong performance was largely driven by a decline in import spending rather than a significant increase in export earnings.
Agricultural exports reached $3.30 billion during the quarter, remaining nearly unchanged from the previous year with growth of just 0.1%. Meanwhile, imports fell by 10.6% to $1.76 billion. The reduction in import costs was mainly attributed to lower prices for key imported products such as palm oil, rice, frozen fish, and coffee, which contributed significantly to the improved trade balance.
The horticulture sector continued to be the backbone of South Africa’s agricultural exports. The subsector accounted for 55% of total agricultural export earnings, representing its highest-ever share during a first quarter. Strong exports of grapes, pome fruits, stone fruits, and wine generated approximately $1.82 billion in revenue, reinforcing the sector’s critical role in the country’s agricultural economy.
AgriSA highlighted that the horticulture sector alone generated an estimated trade surplus of $1.66 billion, exceeding the overall agricultural trade surplus recorded by the country. This demonstrates the extent to which horticultural products are sustaining South Africa’s positive agricultural trade position and driving export competitiveness in international markets.
Not all agricultural segments performed equally well. Exports of animal products declined by 12.9% to $322 million due to market restrictions associated with foot-and-mouth disease outbreaks. The maize sector also faced challenges, with export values falling by 22.4% to $194 million despite a notable increase in export volumes, primarily due to lower global market prices.
The Netherlands and the United Kingdom remained South Africa’s largest agricultural export destinations during the quarter, collectively accounting for nearly $978 million in export revenue. Other important regional markets included Zimbabwe, Namibia, Mozambique, and Botswana, highlighting the country’s strong trade relationships both within Africa and internationally.
Following a record-breaking agricultural export performance in 2025, when exports reached $15 billion for the seventh consecutive year of growth, South Africa appears well-positioned for another successful year in 2026. Industry observers believe that containing animal disease outbreaks, restoring livestock exports, maintaining horticultural growth, and improving returns from commodities such as maize could further strengthen export performance and potentially lead to another record year for the agricultural sector.
