Key findings for the quarter ended September 2025

The total turnover of quarterly financial statistics (QFS) industries1 in the third quarter of 2025 was estimated at R3 742 682 million (R3,74 trillion), an increase of 4,6% compared with the second quarter of 2025 (R3 579 556 million or R3,58 trillion).

Between the second and third quarters of 2025, turnover increased in seven of the eight industries covered by the survey. The largest percentage increase in turnover was recorded in electricity, gas and water supply (+12,5%), followed by manufacturing (+6,4%), mining and quarrying (+4,5%), transport, storage and communication (+4,5%), trade (+4,2%), construction (+1,2%) and real estate and other business services (excluding financial intermediation and insurance) (+0,6%). A decrease was recorded in community, social and personal services (excluding government and educational institutions) (-0,1%).

Total closing inventories at the end of the third quarter of 2025 were estimated at R1 497 941 million, an increase of 3,5% compared with R1 447 288 million at the end of the second quarter of 2025. Increases were recorded in electricity, gas and water supply (+9,1%), mining and quarrying (+6,1%), manufacturing (+3,9%), trade (+2,8%), construction (+2,2%) and community, social and personal services (excluding government and educational institutions) (+0,9%). Decreases were recorded in real estate and other business services (excluding financial intermediation and insurance) (-10,4%) and transport, storage and communication (-2,2%).

Turnover was estimated at R3 742 682 million in the third quarter of 2025, an increase of 8,0% compared with R3 463 975 million in the third quarter of 2024. All of the eight industries covered by the survey reflected annual increases. The largest percentage increase in turnover was recorded in construction (+18,4%), followed by manufacturing (+12,9%), electricity, gas and water supply (+10,0%), mining and quarrying (+8,3%), trade (+6,0%), community, social and personal services (excluding government and educational institutions) (+4,4%), real estate and other business services (excluding financial intermediation and insurance) (+4,2%) and transport, storage and communication (+2,1%).