Trade conditions in South Africa improved during the second quarter of 2026, driven by a retreat in input costs following the peak of the US-Iran conflict.
The South African Chamber of Commerce and Industry (Sacci) survey indicates that while the immediate pressure from soaring crude prices has eased, the broader economic environment remains fragile.
The improvement in trade expectations for the next six months suggests that businesses are cautiously optimistic about the near-term outlook, provided geopolitical tensions do not reignite.
The easing of input costs comes after a period of significant volatility in April, when the escalation of the US-Iran war sent energy prices soaring.
As hopes for a diplomatic resolution grew, crude oil prices softened, providing some relief to South African importers and manufacturers who had been grappling with inflated logistics and production expenses.
This cost reduction is a critical factor in stabilizing trade margins, which had been squeezed by the sudden spike in global energy markets.