SOUTH AFRICAN MANUFACTURING SECTOR REPORTS 9.4 PCT HIGHER INCOME

Statistics South Africa (StatsSA) has released its manufacturing industry report for 2014 which indicates that total income for the industry increased by 9.4 per cent per annum.

“Stats SA today (Monday) released the manufacturing industry 2014 report which indicates that the total income for the manufacturing industry has increased by 9.4 per cent per annum, from 1.68 trillion Rand (one USD = about 13.7 Rand) in 2011 to 2.20 trillion Rand in 2014,” said Stats SA.

The report is a periodic survey which measures economic activity in the manufacturing sector of the South African economy. The survey is based on a sample of private and public enterprises operating in the manufacturing industry.

The manufacturing industry’s large sample survey is a periodic survey conducted every three to five years covering business enterprises registered for tax in South Africa.

Comparing 2011 and 2014, large increases were reported for coke, petroleum, chemical products, rubber and plastic ( R248.1 billion), food products and beverages ( R88.6 billion) and transport equipment ( R81.3 billion).

The contribution of the top 100 enterprises (CR100) rose from 53.5 per cent in 2005 to 58.1 per cent in 2014.

“The report further indicates that employment has declined from a high of 1,436,000 in 2005 to a low of 1,190,000 in 2014 (a loss of 246,000 jobs). The biggest loss in employment was in textiles, clothing, leather and footwear (-91,000), food products and beverages (-52,000), metals, metal products, machinery and equipment (-35,000), furniture, other manufacturing and recycling (-32.000) and transport equipment (-30,000).”

Jobs were only gained in coke, petroleum, chemical products, rubber and plastic ( 20,000) sectors. Large enterprises contributed only 46.4 per cent of employment whereas the small, medium and micro enterprises (SMMEs) created 53.6 per cent of employment.

Source: NAM NEWS NETWORK.