The total turnover of quarterly financial statistics (QFS) industries¹ in the first quarter of 2023 was estimated at R3 238 847 million (R3,24 trillion), a decrease of 3,2% compared with the fourth quarter of 2022 (R3 346 188 million or R3,35 trillion).

Between the fourth quarter of 2022 and the first quarters of 2023, turnover decreased in six industries covered by the survey. The largest percentage decrease in turnover was recorded in manufacturing (-6,0%), followed by trade
(-3,8%), electricity, gas and water supply (-3,6%), mining and quarrying (-1,6%), construction (-1,1%) and transport, storage and communication (-0,6%). Increases were recorded in community, social and personal services (excluding government and educational institutions) (+4,0%) and real estate and other business services (excluding financial intermediation and insurance) (+0,6%).

Total closing inventories at the end of the first quarter of 2023 were estimated at R1 283 271 million, an increase of 2,1% compared with R1 257 056 million at the end of the fourth quarter of 2022. Increases were recorded for trade (+4,9%), electricity, gas and water supply (+4,4), manufacturing (+2,0%) and construction (+0,5%). Decreases were recorded in transport, storage and communication (-7,0%), real estate and other business services (excluding financial intermediation and insurance) (-6,1%), community, social and personal services (excluding government and educational institutions) (-3,9%) and mining and quarrying (-3,7%).

Turnover was estimated at R3 238 847 million in the first quarter of 2023, an increase of 9,0% compared with R2 970 484 million in the first quarter of 2022. Six of the eight industries covered by the survey reflected annual increases. The largest percentage increase in turnover was recorded in trade (+18,2%), followed by manufacturing (+11,4%), community, social and personal services (excluding government and educational institutions) (+8,1%), construction (+7,9%), transport, storage and communication (+7,7%) and electricity, gas and water supply (+4,9%). Decreases were recorded in real estate and other business services (excluding financial intermediation and insurance) (-7,5%) and mining and quarrying (-5,8%).