Economic wrap-up for July 2024
After a busy June, Stats SA’s publication schedule was quieter in July. The agency published 22 releases. Key highlights include an update on inflation and an exploration of South Africa’s biodiversity-based tourism sector. Consumer inflation softens to a six-month low Headline inflation edged lower to 5,1% in June from 5,2% in May. June’s print is read more »
The role of biodiversity-based tourism in South Africa
A first of its kind, the release of South Africa’s experimental estimates for biodiversity-based tourism paints a picture of this sector’s contribution to economic activity, employment and tourism spend. What is biodiversity-based tourism? If you visit a game park, hike at a nature reserve, snorkel along the coast, relax in a national botanical garden, or read more »
Economic wrap-up for June 2024
June was a bumper month for statistical reports. Stats SA published 40 releases in the month, providing monthly, quarterly and annual economic updates. Here are a few highlights. The South African economy weakens in the first quarter The month began with the release of the latest gross domestic product (GDP) figures. The economy contracted by read more »
Stats Biz – May 2024
Real gross domestic product (GDP) contracted by a marginal 0,1% in the first three months of 2024. This followed a revised 0,3% increase in the fourth quarter of 2023. Weaker manufacturing, mining and construction drove much of the downward momentum on the production side of the economy, while the expenditure side witnessed a decline across read more »
Economy 0,1% weaker in the first quarter
Real gross domestic product (GDP) contracted by a marginal 0,1% in the first quarter (January–March) of 2024.1 This followed a revised 0,3% increase in the fourth quarter of 2023. Weaker manufacturing, mining and construction drove much of the downward momentum on the production (supply) side of the economy, while the expenditure (demand) side witnessed a read more »
Economic wrap-up for May 2024
Stats SA published 24 releases in May, with many providing a preliminary overview of economic performance in the first quarter (January–March). Key industries down in the first three months of the year Mining, manufacturing, electricity, construction, retail trade, motor trade and road transport were weaker in the first quarter of 2024 compared with the fourth read more »
Economic wrap-up for March 2024
Stats SA had a packed publication schedule in March. The statistical agency published 37 releases in the month, including several annual and quarterly reports. Notable releases: Tourism, water and municipal services The headwinds from the COVID-19 pandemic hit all industries hard, including the tourism sector. Although tourism is slowly returning to an even keel, it read more »
Tourism: the state of post-COVID-19 recovery
The economic fallout from COVID-19 affected many industries, including South Africa’s tourism sector. A decline in revenue from domestic (resident) visitors and inbound (non-resident) visitors, exacerbated by stringent travel restrictions, saw a fall in tourism trips, tourism-related expenditure, and employment. The sector has shown signs of recovering from the pandemic’s repercussions. The latest Tourism Satellite read more »
Stats Biz – February 2024
South Africa’s economy grew by a marginal 0,1% in the fourth quarter, taking the annual growth rate for 2023 to 0,6%. Six of the ten industries kept the economy afloat, with the transport, storage & communication industry making the biggest positive impact. On the downside, trade, agriculture, construction and government were weaker. Explore the latest read more »
Economic growth muted as 2023 draws to a close
South Africa’s economy grew by a marginal 0,1%1 in the fourth quarter (October–December), taking the annual growth rate for 2023 to 0,6%. Real gross domestic product (GDP) in the fourth quarter was R1 158 billion. This is above the pre-COVID-19 reading of R1 150 billion, but still below the peak of R1 161 billion recorded in the third quarter read more »