The total turnover of annual financial statistics (AFS) industries¹ was estimated at R14 797 683 million (R14,8 trillion) for 2023, an increase of 17,2% compared with the revised estimate of R12 626 181 million (R12,6 trillion) for 2022. 

Between 2022 and 2023, turnover increased in all nine industries covered by the survey. The largest percentage increase was reported in community, social and personal services² (+42,2%), followed by construction (+24,6%), transport, storage and communication (+18,9%), activities auxiliary to financial intermediation, real estate and other business services³ (+18,2%), trade (+17,9%), manufacturing (+16,5%), forestry and fishing (+15,6%), mining and quarrying (+7,3%) and electricity, gas and water supply (+5,3%).

Purchases amounted to R9 377 077 million in 2023, representing an increase of 19,5% compared with the revised estimate for 2022. Construction reported the largest increase (+29,7%), followed by forestry and fishing (+25,4%), transport, storage and communication (+24,2%), mining and quarrying (+20,4%), trade (+20,0%), manufacturing (+17,8%), activities auxiliary to financial intermediation, real estate and other business services (+16,0%), electricity, gas and water supply (+15,1%) and community, social and personal services (+6,6%).

Employment cost amounted to R1 646 781 million in 2023, representing an increase of 6,3% compared with the revised estimate for 2022. Activities auxiliary to financial intermediation, real estate and other business services reported the largest increase (+9,6%), followed by forestry and fishing (+8,3%), trade (+7,1%), mining and quarrying (+6,6%), transport, storage and communication (+5,8%), manufacturing (+5,1%), electricity, gas and water supply (+3,4%), construction (+3,0%) and community, social and personal services (+1,3%).

Capital expenditure on property, plant and equipment, intangible assets and right of use assets amounted to R656 033 million in 2023, representing an increase of 20,3% compared with the revised estimate for 2022. Community, social and personal services reported the largest increase (+69,6%), followed by construction (+49,8%), transport, storage and communication (+39,8%), trade (+26,8%), mining and quarrying (+13,3%), electricity, gas and water supply (+11,5%), activities auxiliary to financial intermediation, real estate and other business services (+8,5%) and manufacturing (+6,6%). A decrease was reported in forestry and fishing (-22,3%).

The carrying value of property, plant and equipment, intangible assets and right of use assets amounted to R3 919 235 million in 2023, representing an increase of 6,5% compared with the revised estimate for 2022. Activities auxiliary to financial intermediation, real estate and other business services reported the largest increase (+30,0%), followed by community, social and personal services (+13,8%), construction (+12,5), manufacturing (+9,1%), trade (+6,8%), mining and quarrying (+5,1%) and transport, storage and communication (+3,3%). Decreases were reported in forestry and fishing (-3,5%) and electricity, gas and water supply (-0,6%).

¹ All industries in the South African economy, excluding agriculture, hunting, financial intermediation, insurance, pension funding, other business services not elsewhere classified, general government and educational institutions.

² Excluding general government and educational institutions.

³ Excluding financial intermediation, insurance, pension funding and business services not elsewhere classified.