Media release                                                                                                  20 November 2018 

Private sector companies record turnover increases

The total turnover for private sector enterprises¹ operating in the South African economy increased by 6,0% to R9 369 199 million (R9,4 trillion) for 2017 from R8 836 493 million (R8,8 trillion) in 2016. For the reference period, turnover increased in all industries covered in the Annual Financial Statistics 2017 report released by Statistics South Africa today.

The largest percentage increase (+13,1%) was reported in forestry and fishing, followed by mining and quarrying (+12,9%), electricity, gas and water supply (+10,6%), community, social and personal services² (+9,5%), construction (+8,6%), manufacturing and activities auxiliary to financial intermediation, real estate and other business services³ (+6,9%), transport, storage and communication (+5,6%) and trade (+3,2%). 

Employment-related costs in private sector enterprises increased by 6,2% to R1,3 trillion  in 2017 from R1,2 trillion in 2016. Electricity, gas and water supply reported the largest increase (+13,2%), followed by forestry and fishing (+10,3%), construction (+10,1%), community, social and personal services² (+9,1%), activities auxiliary to financial intermediation, real estate and other business services³ (+8,9%), mining and quarrying (+6,8%), manufacturing (+6,0%), transport, storage and communication (+2,8%) and trade (+2,2%). 

Capital expenditure on assets amounted to R511,2 billion in 2017 from R497,7 billion in 2016, representing an increase of 2,7%. Eight of the nine industries reflected an increase in capital expenditure on assets. The largest increase was reported in construction (+28,6%), followed by community, social and personal services² (+24,8%), activities auxiliary to financial intermediation, real estate and other business services³ (+18,2%), electricity, gas and water supply (+10,6%), forestry and fishing (+10,2%), manufacturing (+10,1%), trade (+1,7%) and transport, storage and communication (+1,3%). A decrease was reported for mining and quarrying (-27,0%).

The carrying value of property, plant and equipment and intangible assets amounted to R3,1 trillion in 2017 from R2,9 trillion in 2016, an increase of 8,2%. The largest increase was reported in construction (+28,1%), followed by electricity, gas and water supply (+17,3%), forestry and fishing (+11,7%), activities auxiliary to financial intermediation, real estate and other business services³ (+10,5%), community, social and personal services² (+8,9%), trade (+8,5%), transport, storage and communication (+6,3%), manufacturing (+3,2%) and mining and quarrying (+2,2%).

Ends.

The full statistical release is available on the Statistics South Africa website: www.statssa.gov.za  

Issued by Statistics South Africa 

For technical enquiries:

Mr Joe de Beer

Deputy Director General: Economic Statistics

Tel: (012) 310 8024

Cell: 082 888 2600

Email: JoeDB@statssa.gov.za

Dr Sagaren Pillay

Chief Director: Private Sector Financial Statistics

Tel: (012) 310 4619

Cell: 082 905 2665

Email: SagarenP@statssa.gov.za

Ms Amukelani Ngobeni

Director: Annual Financial Statistics

Tel: (012) 310 2938

Cell: 082 677 4536

Email: AmukelaniN@statssa.gov.za

Media enquiries:

Ms Lesedi Dibakwane

Director: Media Relations

Tel: (012) 310 8578

Cell: 082 805 7088

Email: LesediD@statssa.gov.za

¹All industries in the South African economy, excluding agriculture, hunting, financial intermediation, insurance, pension funding, other business services

not elsewhere classified, government and educational institutions.

²Excluding government and educational institutions.

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