Key Market Indicators
South Africa's truck import market is projected to decline slightly over the next five years. The import value is expected to decrease from approximately $796 million in 2023 to $787 million by 2028, reflecting an average annual reduction of 0.1%. This continues a longer-term trend, as South African demand for trucks has been falling at an average rate of 1.1% per year since 2005. In contrast, the country's truck exports are on an upward trajectory. South African truck exports are forecasted to increase from around $4 billion in 2023 to nearly $4.7 billion by 2028, growing at a compound annual growth rate (CAGR) of 2.5%. This growth builds on a historical trend, with exports rising by an average of 3.1% annually since 2005. In the global context, South Africa ranked 12th in truck exports in 2023. Belgium led the ranking with exports valued at approximately $4 billion. The United States, Germany, and France followed as the second, third, and fourth largest exporters, respectively.