The total turnover of annual financial statistics (AFS) industries¹ was estimated at R15 664 785 million (R15,7 trillion) for 2024, an increase of 5,5% compared with the revised estimate of R14 852 216 million (R14,9 trillion) for 2023.

Between 2023 and 2024, turnover increased in eight of the nine industries covered by the survey. The largest percentage increase was reported in community, social and personal services² (+31,2%), followed by electricity, gas and water supply (+19,0%), construction (+15,9%), transport, storage and communication (+8,3%), forestry and fishing (+7,3%), activities auxiliary to financial intermediation, real estate and other business services³ (+5,4%), manufacturing (+4,4%) and trade (+3,0%). A decrease was reported in mining and quarrying (-2,1%).

Purchases amounted to R9 684 795 million in 2024, representing an increase of 3,2% compared with the revised estimate for 2023. Electricity, gas and water supply reported the largest increase (+19,1%), followed by construction (+14,9%), community, social and personal services (+11,6%), transport, storage and communication (+7,9%), mining and quarrying (+4,8%), manufacturing (+3,9%), forestry and fishing (+3,1%), trade (+0,6%) and activities auxiliary to financial intermediation, real estate and other business services (+0,4%).

Employment cost amounted to R1 856 366 million in 2024, representing an increase of 12,3% compared with the revised estimate for 2023. Construction reported the largest increase (+20,5%), followed by mining and quarrying (+19,2%), community, social and personal services (+16,2%), activities auxiliary to financial intermediation, real estate and other business services (+15,9%), electricity, gas and water supply (+14,9%), transport, storage and communication (+13,6%), trade (+9,9%), forestry and fishing (+9,7%) and manufacturing (+3,9%).

Capital expenditure on property, plant and equipment, intangible assets and right of use assets amounted to R775 327 million in 2024, representing an increase of 17,9% compared with the revised estimate for 2023. Electricity, gas and water supply reported the largest increase (+49,7%), followed by forestry and fishing (+41,1%), transport, storage and communication (+37,0%), construction (+23,2%), mining and quarrying (+17,2%), community, social and personal services (+13,0%), manufacturing (+12,0%) and activities auxiliary to financial intermediation, real estate and other business services (+10,9%). A decrease was reported in trade (-6,9%).

The carrying value of property, plant and equipment, intangible assets and right of use assets amounted to R4 208 504 million in 2024, representing an increase of 6,9% compared with the revised estimate for 2023. Community, social and personal services reported the largest increase (+29,5%), followed by construction (+25,8%), transport, storage and communication (+14,3%), mining and quarrying (+10,1%), manufacturing (+8,0%), forestry and fishing (+6,8%), trade (+4,4%) and activities auxiliary to financial intermediation, real estate and other business services (+2,8%). A decrease was reported in electricity, gas and water supply
(-5,8%).

¹ All industries in the South African economy, excluding agriculture, hunting, financial intermediation, insurance, pension funding, other business services not elsewhere classified, general government and educational institutions.

² Excluding general government and educational institutions.

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