In 2015, Stats SA published an article highlighting the contribution that small businesses make to industry turnover in South Africa.1 The March 2019 Quarterly financial statistics (QFS) report provides an update. The entire formal business sector2 generated R2,39 trillion in turnover in Q1: 2019. Out of this amount, large businesses contributed 62%, followed by small (29%) and   read more »

Note: The original version of this article was published on 25 June 2019, with the international tax-to-GDP ratio figures based on data from the IMF. After discussions with National Treasury, it was agreed that tax-to-GDP figures from the OECD provide a more relevant picture when South Africa is compared with other countries, as the IMF   read more »

Annual consumer inflation was 4,5% in May 2019, slightly up from the 4,4% recorded in April 2019. The inflation rate has remained below the 6% monetary policy ceiling since April 2017. During this time inflation has averaged 4,7%. Prices increased by 0,3% on average in May. This was mainly driven by a 3,3% rise in   read more »

The South African economy slumped sharply in the first three months of 2019, contracting by 3,2%.1 Seven of the ten industries took a knock, with manufacturing, mining and trade the biggest contributors to the fall. Construction, mining and trade are in recession. The 3,2% decline is the biggest quarterly fall in economic activity since the   read more »

Annual consumer inflation softened to 4,4% in April 2019 after hitting a three-month high of 4,5% in March 2019. While food inflation remains quite stable, rising petrol prices continue to place pressure on consumers. Inflation has remained within the South African Reserve Bank (SARB) target range of 3–6% for two years (since March 2017). The   read more »

The youth aged 15–24 years are the most vulnerable in the South African labour market as the unemployment rate among this age group was 55,2% in the 1st quarter of 2019. Among graduates in this age group, the unemployment rate was 31,0% during this period compared to 19,5% in the 4th quarter of 2018 –   read more »

Each province is unique. Data published recently by Stats SA provide a portrait of South Africa’s provincial economies. Here are four facts you might not have known about our economic landscape.   Fact #1 Gauteng is South Africa’s economic powerhouse Don’t let Gauteng’s size on a map fool you. It might be the province with   read more »

Spending and income play an important role in determining local government’s ability to deliver services. The ability of a municipality to generate its own income is an important sign of its independence. The Quarterly Financial Statistics of Municipalities (QFSM) survey collects data on municipal operating expenditures and incomes on a quarterly basis. The December 2018   read more »

Consumer inflation edged up slightly from 4,0% in January 2019 to 4,1% in February 2019, remaining firmly within the South African Reserve Bank (SARB) inflation target range of 3%–6%. Notable drivers behind the rise were medical insurance and transport costs. Stats SA surveys health insurance fees in February of each year. On average, medical-aid schemes   read more »

Believe it or not, there was a time – not so long ago – when the South African government actually spent less than it earned. Stats SA takes a look at government spending over 13 years, focusing on how much we pay to service our debt. Harking back to better times in February’s National Budget   read more »