South Africa’s fuel exports fell to 8.2% of merchandise exports in 2025.

Neither way is good in itself. A higher share ties export earnings more closely to fuel markets, and a lower share means other goods carry more of the total. Which is better depends on what else the country sells, so the direction carries no verdict by itself. The latest figure is 8.2% of merchandise exports in 2025, down 1.4 percentage points from 9.6% of merchandise exports a year earlier. Since 2016 the share has ranged from a low of 8.1% of merchandise exports in 2020 to a high of 14.3% of merchandise exports in 2022. The current reading therefore sits just above the bottom of its range.

Why it matters. At 8.2% of merchandise exports, fuel makes up a much smaller part of South Africa's goods sales abroad than in 2022. Swings in fuel prices therefore weigh less on total export earnings than they did then. Exporters of other goods account for most of the foreign currency coming in, and the next annual reading will show whether the share stays near its 2020 low.