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](https://www.statssa.gov.za/wp-content/uploads/2024/03/gdp4-64x64.jpg)
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 »
![Economic wrap-up for February 2024](https://www.statssa.gov.za/wp-content/uploads/2024/03/feb1-64x64.jpg)
Economic wrap-up for February 2024
February is a highlight of Stats SA’s publication schedule, with the release of various economic indicators for December concluding the results for the previous year. The preliminary data point to a lacklustre 2023, with several indicators in the red (Figure 1). Mining production, electricity generation, construction (the value of buildings completed as reported by large municipalities), read more »
![Metal ores push up mining turnover](https://www.statssa.gov.za/wp-content/uploads/2023/12/afsc-64x64.jpg)
Metal ores push up mining turnover
The mining industry’s contribution to total turnover in the South African formal business sector has increased over the years. A comprehensive time series, available from the Annual Financial Statistics (AFS) statistical release, provides a breakdown of how the turnover pie has shifted over the years. The survey reference period for the latest AFS (i.e. AFS read more »
Stats Biz – November 2023
Real gross domestic product (GDP) contracted by 0,2% in the third quarter of 2023. This followed two consecutive quarters of growth. On the production side of the economy, five of the ten industries recorded weaker results in the third quarter, with agriculture, manufacturing and construction the biggest drags on growth. Explore the latest GDP figures, read more »
![Economic wrap-up for November 2023](https://www.statssa.gov.za/wp-content/uploads/2023/12/nov1-64x64.jpg)
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 30Â 000 households across the country, the Quarterly Labour Force Survey reported a rise in employment figures in the South African workforce. The economy created 399Â 000 jobs in the read more »
![South Africa’s tourism trade balance entered negative territory in 2021](https://www.statssa.gov.za/wp-content/uploads/2023/11/tour2-64x64.jpg)
South Africa’s tourism trade balance entered negative territory in 2021
International visitors to South Africa bring much-needed foreign exchange. Dollars, euros and pounds are converted to rands and spent on tourism products like food, accommodation, recreation and transport. This helps drive domestic tourism-related activities within the country. There is often a lot of attention on the amount of money that non-resident visitors, comprising both tourists read more »
![Economic wrap-up for September 2023](https://www.statssa.gov.za/wp-content/uploads/2023/10/pic1-64x64.jpg)
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 »
Stats Biz – September 2023
After a two-year hiatus, Stats SA released an experimental set of provincial gross domestic product (GDP) data. Gauteng may be the smallest of the nine provinces in terms of area size, but it has the largest economy. In fact, Gauteng’s economy is larger than the economies of KwaZulu-Natal and Western Cape combined. Explore the latest read more »
Stats Biz – August 2023
Investments in energy infrastructure were detected in the latest set of gross domestic product (GDP) figures. The demand side of the economy saw a sharp rise in capital spending on machinery & equipment in the second quarter, which included products related to renewable energy. This was reflected by import data, with the country recording an read more »