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Economic wrap-up for November 2023

Economic wrap-up for November 2023

Stats SA published 25 statistical releases in November. Here is a quick overview of the latest economic indicators. Employment surpasses pre-COVID-19 levels Covering a sample of about 30 000 households across the country, the Quarterly Labour Force Survey reported a rise in employment figures in the South African workforce. The economy created 399 000 jobs in the   read more »


Employment surpasses pre-COVID levels in SA

Employment surpasses pre-COVID levels in SA

Millions of people’s livelihoods, jobs, and health were in jeopardy because of the health crisis caused by COVID-19.  The global economic crisis that emerged was a result of the impact of COVID-19. The impact of the pandemic and the related containment measures led to a severe contraction in economic activity as many people were unable   read more »


Economic wrap-up for September 2023

Economic wrap-up for September 2023

Stats SA published a variety of reports, statistical releases and discussion documents in September. Here is a rundown of key economic indicators. GDP: SA invests in machinery & equipment and households cut back on spending In September, Stats SA released both national and provincial gross domestic product (GDP) figures. On the national front, GDP recorded   read more »


Recent shifts in company income tax

Recent shifts in company income tax

Although the mining industry strengthened company tax collections after the COVID-19 pandemic, its momentum has recently waned. The importance of CIT Company income tax (CIT) was the third largest source of government tax revenue in 2021/22, according to the South African Revenue Service (SARS).1 Personal income tax was the largest contributor (35,5%), followed by value-added   read more »


Jobs in the non-agricultural sector rise in the second quarter of 2023

Jobs in the non-agricultural sector rise in the second quarter of 2023

The formal non-agricultural sector added 39 000 jobs in the second quarter of 2023, reaching almost 10,1 million jobs. According to the latest Quarterly Employment Statistics (QES, Q2:2023) survey released by Stats SA, there was a year-on year net increase of 104 000 jobs. Between March and June 2023, total (full- and part-time) employment rose   read more »


Economic wrap-up for June 2023

Economic wrap-up for June 2023

Stats SA published 26 statistical releases in June, shedding light on the current state of the economy. SA narrowly averts recession The month began with the release of the latest gross domestic product (GDP) figures. After faltering in the fourth quarter of 2022, the South African economy expanded by 0,4% in the first quarter of   read more »


South African economy expands by 0,4%

South African economy expands by 0,4%

After contracting by a revised 1,1% in the fourth quarter of 2022, real gross domestic product (GDP) edged higher in the first quarter of 2023 (January‒March), expanding by an estimated 0,4%.1 The manufacturing and finance industries were the major drivers of growth on the supply side of the economy. The demand side was lifted by   read more »


The South African tourism sector struggled in 2020

The South African tourism sector struggled in 2020

Even though 2020 seems like a lifetime ago, the true extent of the COVID-19 pandemic’s impact is still being pieced together. The recent Tourism Satellite Account (TSA) for South Africa report1 sheds light on how the pandemic affected the tourism sector over the period January 2020 to December 2020, most notably in terms of production,   read more »


GDP declines in the fourth quarter

GDP declines in the fourth quarter

After rallying in the third quarter of 2022, South African gross domestic product (GDP) declined by 1,3% in the fourth quarter (October‒December).1 Growth was dragged lower mainly by finance, trade, mining, agriculture, manufacturing and general government services. Finance and trade the biggest drags on growth Seven of the ten industries contracted in the fourth quarter.   read more »


Business turnover and expenditure decline for the first time in a decade

Business turnover and expenditure decline for the first time in a decade

Marked by COVID-19, the 2020–2021 period was incredibly challenging for the South African economy. Data from Stats SA’s latest Annual financial statistics (AFS) survey, which includes the first three months of the hard lockdown, shows a decline in formal business turnover and expenditure. The AFS reference period typically entails a lag effect: the survey reference   read more »


P0044 - Quarterly financial statistics (QFS)

This statistical release contains financial information from a sample of enterprises in the formal non-agricultural business sector. read more »


P0021 - Annual Financial Statistics (AFS)

The annual financial statistics survey (AFS), previously published as the economic activity survey (EAS), contains estimates of financial data for the following industries: Forestry and fishing, mining and quarrying, manufacturing, electricity, gas and water supply, construction, trade, transport, storage and communication, real estate and other business services (excluding financial intermediation and insurance, but including activities auxiliary to financial intermediation) and community, social and personal services (excluding government institutions). The AFS is designed to provide information on selected income and expenditure items, capital expenditure on new and existing assets and the book value of fixed and intangible assets at the end of the financial year for the South African-based activities of the enterprise. read more »


Report-50-02-01 - Construction industry

This publication updates Statistical Release P5002 read more »


P5002 - The Construction Industry

This statistical release contains financial results from the Large Sample Survey of the construction industry.read more »


P0044 - Quarterly financial statistics (QFS)

This statistical release contains financial information from a sample of enterprises in the formal non-agricultural business sector. read more »


Mangaung

Mangaung Metropolitan Municipality is a Category A municipality. It is situated in the Free State province, in the central interior of South Africa.  The Free State is bordered by Gauteng, the Eastern Cape, Northern Cape, KwaZulu-Natal and North West provinces, as well as the neighbouring country of Lesotho.

Mangaung, meaning “the place of the cheetah”, accentuates the vibrant, dynamic and energetic character of the tourism industry in the “City on the move (at the heart of it all)”.  The economy is strongly driven by the government sector, which has seen the fastest growth in the last five years as a result of increased government programmes in livelihoods improvement interventions.  The finance sector is the second-fastest growing sector due to very active estate and construction activities. Small businesses have a major role to play in the Mangaung economy, in terms of employment creation, income generation and output growth.

Cities/Towns: Bloemfontein, Botshabelo, Mangaung, Thaba Nchu Main Economic Sectors: Government services, finance

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Lephalale

Lephalale Local Municipality is named after the local river, a tributary of the Limpopo River, which has been the source of life to the people of this area for centuries. The town of Lephalale is located a mere 280 km from Tshwane and is a recognised gateway to Botswana and other Southern African countries. Lephalale is the home of the Medupi Power Station that is currently under construction. The Matimba Power Station delivers 3 990 megawatts to the South African grid.

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Dipaleseng

Dipaleseng Local Municipality is situated in the southern part of the GertSibande District Municipality. Balfour is located in the heart of world-renowned coalfields and the Goldfields belt. This modern and predominantly industrial town is located in close proximity (80km) to the nationally well-known industrial areas of Johannesburg. The Balfour/Siyathemba urban area is 340km from Nelspruit and 80km from Johannesburg. The internationally known abattoir, the “biggest abattoir in Africa”, is found in Dipaleseng (Balfour town), with a vast number of by-products including inorganic chemicals, fertilizers, etc.being manufactured in the area.

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Tsantsabane

Tsantsabane Local Municipality is located within the north-eastern parts of the Northern Cape Province, and falls within the boundaries of the Siyanda District Municipality. Tsantsabane was the original name given to the town by the Batswana because of the presence of many shiny stones (e.g. the hematite). The nearest business centre is Kimberley, which is about 200km away. The municipality's main town is Postmasburg. Three main traffic routes provide access to other cities, namely Johannesburg via Kuruman and the Kalahari and Cape Town via Kimberley. The rest of the Tsantsabane Municipality area comprises of Boichoko, Postdene, New Town, Stasie, Groen Water, Skyfontein, Jean Heaven, the new established settlement brought about by the land redistribution called Marenane, and the well-known Lohatlha Army Battle SchoolCities/Towns: Beeshoek and Postmasburg. Area: 18,333km².read more »


Buffalo City

Buffalo City Metropolitan Municipality is in the Amathole District of the Eastern Cape Province, on the eastern coast of South Africa.  Consisting of the towns of East London, King William’s Town, Mdantsane, Zwelitsha and Bhisho, the municipality was named after the Buffalo River, which flows through East London.

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Inflation

The Consumer Price Index (CPI) and Producer Price Index (PPI) are the two primary measures of inflation for South Africa. Both indicators are published on a monthly basis.The Consumer Price Index tracks the rate of change in the prices of goods and services purchased by consumers. The headline CPI is used as the inflation target measure which guides the South African Reserve Bank on the setting of interest rates.

The Producer Price Index tracks the rate of change in the prices charged by producers of goods. Stats SA publishes PPIs for different industries with the PPI for final manufactured goods being the headline PPI. Additional PPIs are compiled for Agriculture, forestry and fishing; Mining and quarrying; Electricity and water; Intermediate manufactured goods; Imports and Exports; and Construction.

The PPI is widely used by businesses as a contract escalator and as a general indicator of inflationary pressures in the economy.

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Poverty

Poverty is a key development challenge in social, economic and political terms; not only in South Africa but throughout the developing world. In post-apartheid South Africa, fighting the legacy of poverty and under-development has always been a central theme of Government. This was cemented in the Reconstruction and Development Plan (RDP) of 1994 and reiterated in the National Development Plan (NDP) published in 2011.

The guiding objectives of the NDP is the elimination of poverty and the reduction in inequality and all the elements of the plan must demonstrate their effect on these two objectives. The Living Conditions Survey (LCS) and the Income and Expenditure Survey (IES) conducted by Stats SA are the two primary contributors toward profiling and monitoring poverty and inequality over time.

These two surveys are fundamental components to the survey programme of any statistical agency. They are the leading tools for the measurement of absolute poverty and inequality and they are an extremely important building block for the Consumer Price Index (CPI) to stay current with the changing spending and consumption patterns of the country.

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South Africa and the Millennium Development Goals (MDGs)

In the year 2000 the South African government, along with other members of the United Nations (UN), committed to a national and global plan of action to reduce poverty and ensure the development of its people. The sixth and final Millennium Development Goals (MDGs) Country Report for 2015 provides an overview of the progress South Africa has made towards achieving the eight MDGs. In addition, it provides an historical account of South Africa’s development in numbers. The MDGs are:

  1. To eradicate extreme poverty and hunger
  2. To promote universal primary education
  3. To promote gender equality and empower women
  4. To reduce child mortality
  5. To improve maternal health
  6. To combat HIV/AIDS, malaria and other diseases
  7. To ensure environmental sustainability
  8. To develop a global partnership for the development.

This report reflects the intense national effort, from a range of institutions, organisations and individuals, to improve the lives of all South Africans; particularly the poor and marginalised. A great many people have contributed to this report through their participation in various consultative fora across the country, often at great expense and sacrifice. What started 15 years ago certainly does not end here, and reporting on development issues will continue through the Sustainable Development Goals (SDGs). It is therefore critical that South Africa’s unfinished MDG business, as well as emerging developmental issues, be appropriately integrated within the SDGs in a manner that places the spotlight on them, while providing adequate direction and impetus for effective planning, development of appropriate policies and budgets, and the construction of appropriate national monitoring and reporting systems.

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Transport

Travel survey – Online Updates The National Household Travel survey (NHTS) provides insight into the travel patterns of South African households, providing information on modes of transport used, such as land, air and water transport, as well as cycling, walking, public and private transport. Also included are statistics on travel times, transport challenges experienced by households, and travel patterns related to work, education and leisure. NHTS surveys were conducted in 2003, 2013 and 2020. Transport and the need for transport has become an important part of daily life in South Africa. Not only does the movement of goods and services play an important part in the South African economy, but the types of transport available to individuals affects spatial decisions in terms of work, entertainment, education and place of residence. Stats SA publishes a range of transport-related information in various reports and publications. Travel survey The National Household Travel survey (NHTS) provides insight into the travel patterns of South African households, providing information on modes of transport used, such as land, air and water transport, as well as cycling, walking, public and private transport. Also included are statistics on travel times, transport challenges experienced by households, and travel patterns related to work, education and leisure. NHTS surveys were conducted in 2003 and 2013. Transport and the economy Stats SA’s quarterly Gross domestic product (GDP) release provides information on the size and growth of various industries in the South African economy, including the transport industry. The same publication also includes figures on overall household expenditure on transport. The monthly Motor trade sales release provides the time series data of trade in motor vehicles and motor accessories. The Land transport survey, published on a monthly basis, provides data on passenger and freight transportation by land. The Producer Price Index (PPI) release provides information on the prices of transport equipment leaving the factory gate. The extent to which prices of fuel, public transport and private transport are changing is covered in the monthly Consumer Price Index (CPI) release. Employment Stats SA’s Quarterly Labour Force Survey (QLFS) and Quarterly Employment Survey (QES) provide information on the number of individuals employed in various industries, including the transport industry. Financial indicators The Quarterly Financial Statistics (QFS) and Annual Financial Statistics (AFS) reports provide a financial overview of various industries, including transport, storage and communication. Data on turnover, income and expenditure, profit or loss and various balance sheet items are also included in the reports. The transport and storage industry report for 2013 provides more in-depth information on the size, nature and structure of the transport and storage industry. This periodic survey provides details on employment within the industry, trading income, expenditure, profit or loss, inventories, sales and services, and purchases.read more »


Unemployment

Employment is a key economic indicator and it is sensitive to the business cycle. For example employment peaked in 2008 to approximately 13,8 million when the economy was better. However, during the recession of 2009 and 2010 approximately 806 000 persons lost their jobs. After these two successive years of decline, employment grew by 204 000 and 258 000 persons in 2011 and 2012 respectively. Community & social services industry contributed the most to the growth in employment observed in the past two years. This was followed by Finance and other business services.read more »