The Income & Expenditure Survey (IES) 2022/23 released by Statistics South Africa today shows that South Africa’s total annual household consumption expenditure between November 2022 and November 2023 is estimated at R3 trillion. The top four main components of household consumption expenditure were: housing, water, electricity, gas and other fuels; food and non-alcoholic beverages; transport; and insurance and financial services.

The top four main components of household consumption expenditure divisions account for approximately three-quarters (75,6%) of all household consumption expenditure in the country. Essentially, three out of every four rands spent by South African households goes towards these four key areas.

The average annual consumption expenditure for South African households was R143 691 in 2023. However, the median household expenditure for the country was R82 861 per annum. Male-headed households accounted for over 60% of all household consumption expenditure in the country and spent on average about R159 315 in 2023. The median household consumption expenditure for male-headed households was estimated at R85 804 per annum. Female-headed households accounted for under 40% of all household consumption expenditure in South Africa at an average spending of R123 346 per annum. For female-headed households the median household consumption expenditure was estimated at R80 109 per annum.

Results of the survey further show that, on average, South African households had an income of R204 359 per annum in 2023 with a median household income of R95 770. Male-headed households had an average income of R239 590 per annum compared to R158 481 for female-headed households. On average white-headed households earned the highest income of R676 375 per annum. Followed by Indian/Asian-headed households (R417 431), coloured-headed households (R260 816) and black African-headed households (R143 632).

The average household income of white-headed households was almost five times higher than that of black African-headed households and almost three times higher than the average household income of coloured-headed households.