IMPROVING LIVES THROUGH DATA ECOSYSTEMS

The total turnover of quarterly financial statistics (QFS) industries¹ in the first quarter of 2024 was estimated at R3 274 838 million (R3,27 trillion), a decrease of 5,5% compared with the fourth quarter of 2023 (R3 464 740 million or R3,46 trillion).

Between the fourth quarter of 2023 and the first quarter of 2024, turnover decreased in seven of the eight industries covered by the survey. The largest percentage decrease in turnover was recorded in mining and quarrying (-12,4%), followed by trade (-6,2%), manufacturing (-4,9%), transport, storage and communication (-4,8%), electricity, gas and water supply (-3,5%), construction (-3,0%) and real estate and other business services (excluding financial intermediation and insurance) (-2,8%). An increase was recorded in community, social and personal services (excluding government and educational institutions) (+3,3%).

Total closing inventories at the end of the first quarter of 2024 were estimated at R1 464 815 million, an increase of 2,7% compared with R1 425 707 million at the end of the fourth quarter of 2023. Increases were recorded in construction (+3,6%), trade (+3,5%), manufacturing (+2,9%) and mining and quarrying (+1,4%). Decreases were recorded in electricity, gas and water supply (-2,0%), transport, storage and communication (-1,1%), real estate and other business services (excluding financial intermediation and insurance) (-0,6%) and community, social and personal services (excluding government and educational institutions) (-0,2%).

Turnover was estimated at R3 274 838 million in the first quarter of 2024, an increase of 1,0% compared with R3 243 610 million in the first quarter of 2023. Four of the eight industries covered by the survey reflected annual increases. The largest percentage increase in turnover was recorded in electricity, gas and water supply (+15,9%), followed by community, social and personal services (excluding government and educational institutions) (+8,9%), manufacturing (+7,5%) and transport, storage and communication (+3,8%). Decreases were recorded in mining and quarrying (-7,2%), trade (-3,3%), construction (-2,9%) and real estate and other business services (excluding financial intermediation and insurance) (-0,4%).