IMPROVING LIVES THROUGH DATA ECOSYSTEMS

Key findings for the quarter ended June 2023

The total turnover of quarterly financial statistics (QFS) industries1 in the second quarter of 2023 was estimated at R3 325 380 million (R3,33 trillion), an increase of 2,5% compared with the first quarter of 2023 (R3 243 610 million or R3,24 trillion).

Between the first and second quarters of 2023, turnover increased in seven industries covered by the survey. The largest percentage increase in turnover was recorded in electricity, gas and water supply (+21,3%), followed by mining and quarrying (+4,1%), manufacturing (+2,9%), transport, storage and communication (+2,4%), trade (+1,6%), real estate and other business services (excluding financial intermediation and insurance) (+0,4%) and community, social and personal services (excluding government and educational institutions) (+0,4%). A decrease was recorded in construction (-0,8%).

Total closing inventories at the end of the second quarter of 2023 were estimated at R1 330 174 million, an increase of 1,6% compared with R1 309 870 million at the end of the first quarter of 2023. Increases were recorded in real estate and other business services (excluding financial intermediation and insurance) (+5,7%), transport, storage and communication (+5,1%), electricity, gas and water supply (+4,3%), manufacturing (+2,5%) and trade (+2,1%). Decreases were recorded in community, social and personal services (excluding government and educational institutions) (-4,2%), mining and quarrying (-3,9%) and construction (-2,2%).

Turnover was estimated at R3 325 380 million in the second quarter of 2023, an increase of 7,6% compared with R3 089 515 million in the second 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 (+13,9%), followed by electricity, gas and water supply (+12,6%), manufacturing (+12,0%), community, social and personal services (excluding government and educational institutions) (+8,5%), transport, storage and communication (+3,3%) and construction (+2,3%). Decreases were recorded in mining and quarrying (-7,9%) and real estate and other business services (excluding financial intermediation and insurance) (-4,7%).