Key findings: P0044 - Quarterly financial statistics (QFS), December 2025

The total turnover of quarterly financial statistics (QFS) industries1 in the fourth quarter of 2025 was estimated at R3 918 699 million (R3,92 trillion), an increase of 4,9% compared with the third quarter of 2025 (R3 735 838 million or R3,74 trillion). 

Between the third and fourth quarters of 2025, turnover increased in seven of the eight industries covered by the survey.
The largest percentage increase in turnover was recorded in mining and quarrying (+15,4%), followed by transport, storage and communication (+10,1%), trade (+5,9%), manufacturing (+3,5%), construction (+3,2%), real estate and other business services (excluding financial intermediation and insurance) (+1,8%) and community, social and personal services (excluding government and educational institutions) (+1,3%). A decrease was recorded in electricity, gas and water supply (-12,7%). 

Total closing inventories at the end of the fourth quarter of 2025 were estimated at R1 439 486 million, a decrease of 3,0% compared with R1 484 709 million at the end of the third quarter of 2025. Decreases were recorded in trade (-8,8%), community, social and personal services (excluding government and educational institutions) (-7,4%), transport, storage and communication (-6,5%), construction (-4,3%) and manufacturing (-0,7%). Increases were recorded in electricity, gas and water supply (+7,8%), mining and quarrying (+4,6%) and real estate and other business services (excluding financial intermediation and insurance) (+4,3%). 

Turnover was estimated at R3 918 699 million in the fourth quarter of 2025, an increase of 7,4% compared with R3 647 303 million in the fourth quarter of 2024. Seven of the eight industries covered by the survey reflected annual increases. The largest percentage increase in turnover was recorded in mining and quarrying (+23,0%), followed by transport, storage and communication (+13,6%), construction (+10,9%), manufacturing (+9,4%), trade (+4,3%), community, social and personal services (excluding government and educational institutions) (+3,0%) and real estate and other business services (excluding financial intermediation and insurance) (+2,7%). A decrease was recorded in electricity, gas and water supply (-6,6%).