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Business turnover increases by 9 % in South Africa

The total turnover of all industries was estimated at R 7 trillion in 2013 which is an increase of 8.9% compared to R 6.4 trillion for 2012, Statistics South Africa (Stats SA) said Wednesday.

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“Eight of the nine industries reflected an increase in turnover between 2012 and 2013. The largest percentage increase a 12.5% was reported in electricity, gas and water supply,” said Krisseelan Govinden, manager for Private Sector Statistics said.

Govinden was speaking at the release of the Annual Financial Statistics (AFS) 2013 report.

The industries include manufacturing, forestry and fishing and mining and quarrying. The AFS excludes the agricultural sector and government institutions among others.

Mining and quarrying showed a decrease in turnover according to the survey of which the reference period is from 1 July 2012 to 30 June 2013.

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The AFS survey collects a range of financial statistics in respect of enterprises in the formal business sector of the South African economy.

The purpose of the survey is to derive a set of measures of industry performance based on information available from the financial accounts of enterprises.

According to the AFS capital expenditure on assets amounted to R417 592 million in 2013 representing an increase of 8% between 2012 and 2013.

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