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President Cyril Ramaphosa Caricature
We updated our "South African Economic History" page to include the latest economic growth numbers under President Cyril Ramaphosa.
We take a look at South Africa's GDP growth rate and compare it to the growth in household expenditure (one of the main drivers of economic growth)
We take a look at Spur's latest results. And while Spur Steak Ranches brings in the most revenue and profit, rising star RocoMamas is contributing almost 8% to Spur Corp. pretax profits.
In this article we focus on the economic performance of South Africa under the leadership of President Thabo Mbeki. 
We take a look at the economic performance of South Africa under President Jacob Zuma. We take a look at economic growth, the exchange rate and unemployment
Breaking news: South Africa's economy in a recession
The latest GDP numbers published by Statistics South Africa showed South Africa's economy contracted by -0.7%  in the 2nd quarter of 2018.. This follows a revised contraction of -2.6% in the 1st quarter of 2018. This number was revised down from -2.2% to -2.6% 
​We compare South Africa's producer inflation levels to that of South Africa's consumer inflation levels (for all goods and services) and the consumer inflation levels for goods only.

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Picture: Reuters
We take a look at South Africa's import and export prices and compare it to the performance of the Rand against the US Dollar and find import and export prices are not as volatile as the exchange rate.
We take a look at the share price performance of Sasol (SOL), Omnia (OMN) and Rolfes (RLF) and find that even though all three operate in the chemicals and related industry, Sasol's share price performance over the short term has been far better than that of Omnia and Rolfes


​We take a look at Grindrod's latest financial results for the half year ending June 2018. And find that while marine fuel and agricultural logistics brings in the most revenue its the financial services and ports and terminal operations that brings in the profits.
We take a look at South Africa's building statistics for 2015 and 2016 and find that the value of completed town houses and flats increased strongly during 2016 compared to 2015, while the value of completed houses declined from 2015 to 2016, showing consumers are favouring flats and townhouses instead of houses.
We compare the share price performance of two of the United States biggest listed banks to that of two of South Africa's biggest listed banks. And we find that the share price performance of Bank of America is very similar to First Rand and that of Wells Fargo very similar to Standard Bank
We take a look at Adcock Ingram (AIP) latest financial results for the year ending June 2018. 
We take a look at the Quarterly employment statistics (QES) results and estimate the average hourly wage of various job types within various industries for the first quarter of 2018.
We take a quick look at building materials and construction materials supplier Cashbuild and their latest financial results. Tough economic times in South Africa is starting to affect their earnings.
We take a look at three of the main economic indicators of the world's biggest economy, the United States and wonder how such a big economy recovers so quickly from a economic crises, yet a smaller economy such as South Africa is still struggling to recover after the financial crises
We take a look at the latest motor trade sales data and find South Africans are spending almost R16.5 billion a month on fuel, up by almost 21% compared to a year ago, as the weaker Rand and higher oil prices are pushing fuel prices to record highs in South Africa
We take a look at the the KwaZulu-Natal Citizen Satisfaction Survey results as published by Statistics South Africa and find that a large percentage of KwaZulu-Natal citizens are totally dissatisfied with the provincial government
We take a look at the price movements of various types of vegetables in South Africa since December 2016. And cauliflower increased by almost 44% during this time period while pumpkin prices declined by almost 19% over the same time period.
We take a look at the customs data published by the South African Revenue Service (SARS) and focus on South Africa's trade with India for the first 6 months of 2018. What exactly are we exporting to India, and conversely what are we importing from India?​
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We take a look at Woolworths (WHL) latest financial results and believe the market has been to harsh on Woolworths and feel that over the long term the company offers potentially great returns to patient investors who are buying at the current price
We take a look at the share price performance of the main JSE listed cellphone operators which includes Vodacom, MTN and Blue Label Telecoms (large shareholder in Cell C) over a period of time, and find that the sector has not been kind to investors
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We take a look at the customs data published by the South African Revenue Service (SARS) and focus on South Africa's trade with Japan for the first 6 months of 2018. What exactly are we exporting to Japan, and conversely what are we importing from Japan?​
We take a look at the latest price data published by Statistics South Africa and compare the price movements of various types of alcohol sold in South Africa, and find that the price of spirit coolers/ciders increased by more than any other type of alcohol in South Africa since January 2017.
July 2018 inflation rate came in at 5.1%. And for the last 18 months the Western Cape has had the highest inflation rate of any of the provinces in South Africa. We believe there is a certain bias that is included in the Western Cape's inflation numbers
We take a closer look at the capital expenditure (Capex) of 5 selected state owned entities (SOE) which include ESKOM, Transnet, Denel, SAA and Passenger Rail Agency (PRASA)

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South Africa's food and beverages sector is struggling and has been for years. Income earned from the sector (after adjusting for inflation) has remained relatively flat for the last 10 years.
We take a look at the latest inbound tourism data published by Statistics South Africa and the number of overseas travelers heading to South Africa has shown strong declines over the last couple of months. Not good for a sector earmarked by government as employment creator.
We take a look at article published by Statistics South Africa which shows public-sector capital expenditure has declined for the first time since 2010. A sign that government is trying to reign in spending.
We take a look at a few slides presented by the South African Reserve Bank (SARB) to parliament's standing committee on finances.


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We take a look at the latest electricity generated and available for distribution and find that independent power producers makes up 9% of total electricity generated in South Africa.
We take a look at JSE market statistics for the week ending 10 August and find that the total market cap of all shares listed on the JSE has been lower than 12 months ago for the last three weeks in a row.
​We take a look at JSE market statistics for the week ending 10 August and find that foreigners have been net sellers of JSE listed shares for 14 out of the last 17 trading weeks. 
We take a look at the latest JSE statistics and find that the overall All Share PE ratio is well above the long term average PE ratio of the JSE All Share Index.
We take a look at the share price performance of SASOL and Kumbo Iron Ore and compare their share price performance over time and find that the old saying of ïf you own one commodity share you own them all" does not hold true at all, as the behaviour of these two shares are not similar at all
We take a look at the latest QLFS data as published by Statistics South Africa and focus on the number of people employed in private households working as domestic workers, gardeners, pool cleaners, butlers, drivers etc. The current number is 1.296 million or one in around 8 households.
We take a look at the latest QLFS data as published by Statistics South Africa and focus on the amount of hours worked per week as reported by respondents. South Africans seem to have very long working days. Especially if one takes the commute to and from work into account.
We take a look at the latest national poverty lines (NPL) as published by Statistics South Africa and we wonder how anybody can survive on the money mentioned in the poverty lines.


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We take a look at the latest unemployment numbers published by Statistics South Africa and find that South Africa's unemployment rate is now sitting at 27.2% and 5 out of 9 of South Africa's provinces have unemployment rates higher than the national average.

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We take a look at a few graphics relating  to BRICS and ask whether South Africa should actually be part of it?
We take a look at the latest JSE market statistics and find that the total JSE market capital is now lower than it was a year ago, sitting at just over R14.5 trillion.
We take a look at the latest JSE market statistics and find that for the 13 out of the last 16 weeks foreigners have been net sellers of JSE listed shares.
We take a look at the value of goods leaving South Africa from various district/customs offices. And the customs office that contributes the most to total exports is Richards Bay Coal Terminal (shown in the picture above)
We take a look at the Baltic Dry Shipping index and compare it to South Africa's economic growth rate and find the two are closely correlated.
We take a look at trade between two of Africa's biggest economies, South Africa and Egypt. And we find South Africa has a very positive trade balance (exports - imports) with Egypt, but it stems largely from one product category it exports to Egypt, namely Mineral products.
We take a look at the share price performance of both Dis-chem and Clicks since Dis-chem's listing date. And while Dischem outperformed Clicks for the majority of the period since it's listing but recently it has seen a sharp decline in it's share price after its financial results while Clicks has seen a strong surge in its share price after its financial results. Mr Market now clearly favours Clicks above Dis-chem.
We take a look at  the South African net borrowing requirements as at March of each year and find that over the last 9 years government has become extremely dependent and debt to finance its expenditure programs. Sadly this is not a sustainable funding model over the long run and South Africans should be worried about government finances.
We take a look at South Africa's motor vehicle imports index and compare it to the exchange rate and the inflation rate of new vehicle sales and find that there is an element of "sticky prices" in new vehicles, with prices quick to rise but slow to decline.
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We take a look at the inbound and outbound tourism numbers between South Africa and Australia. And while Australia has a far smaller population than South Africa, the number of tourists from Australia coming to South Africa far surpassed the number of tourists from South Africa heading to Australia,
We take a look at the sentiment towards various countries currencies against the US dollar. The currencies include the South African Rand, Aussie Dollar, Turkish Lira, Mexican Peso, Chilean Peso and the Brazilian Real


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We take a look at the gross loans and advances issued by South African banks and find that the growth in loans and advances issued by South African banks have slowed down drastically over the last 12 months, with the last 8 months growing at rates a lot slower than the average of the last 3 years.
We take a look at the sentiment towards 6 different shares listed on the JSE. We map the sentiment over the last two years towards: MTN, Naspers (NPN), Steinhoff (SNH), British American Tobacco (BTI), FirstRand (FSR) and Taste (TAS).





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We take a look at the imports of South Africa and the United States of America and express it as a percentage of each country's local manufacturing sales in order to gauge the dependence of each country on imports. And South Africa is far more dependent on imports than the United States of America.
We take a look at the latest business cycle indicators published by the South African Reserve Bank (SARB) and wonders if these indicators serves any real purpose, and if it is used in discussions when setting monetary policy. We sure hope not as all these indicators do is provide contradicting and confusing results.

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We take a look at the ratio of imports into South Africa over the value of goods produced locally in order to determine how much of South Africa's consumption is produced locally and what percentage is satisfied by imports. 
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We take a look at the number of inbound tourists entering South Africa from the UK. And the numbers recorded in May 2081 is almost 6 000 less visitors than May 2017. And the lowest number recorded from Jan 2017. Is South Africa's high crime rate starting to scare tourists away?
We take a look at the latest results of the Food and beverages survey as published by Statistics South Africa (Stats SA) and find that after stripping out inflation the sector is earning less in real income now than it did a year ago.​
We take a look at the latest population estimates for South Africa and break it down per province. Gauteng has the highest population density (number of people living in a province per square kilometer), while the Northern Cape has the lowest population density of any of South Africa's provinces. 
We take a look at the average price of 1kg of beef rump over time  per province and find that 1kg rump is currently the most expensive in the Free State and its the cheapest in the province of North West

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Foreign investors have been net sellers of JSE listed shares for 11 out of the last 14 weeks, selling roughly R2billion more in JSE listed shares than what they are buying. But its not nearly as bad as it was the same time last year.
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We take a look at the contribution of various categories in the motor trade sales sector and their contribution to total spending in the sector. For every R100 spent in this sector in South Africa almost R28 goes to spending on fuel, while for every R100 spent R26.40 goes towards spending on new vehicles.
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We take a look at the contribution made by various shares to the South Africa's All Share Index and find that 20% of the J203 index is made up by Naspers. And the top 20 shares makes up 67% of total market capital
We take a look at South Africa's trade balance (Exports-Imports) with the rest of the world and compare it to the country's exchange rate performance. Is a stronger Rand better for our trade balance? 

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We take a look at the latest inflation rate published by Statistics South Africa on an interactive map and we find that the Western Cape has the highest inflation rate of any of South Africa's provinces (for the last 17 months in a row)​
We take a look at the total number of credit card transactions in South Africa each month, as well as the total Rand value spent on credit cards on a monthly basis in South Africa.
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We take a look at the total market capital of all shares listed on the Johannesburg Stock Exchange (JSE) and find that the total value of all shares listed on the JSE amounts to roughly R14.5trillion (or 3.5 times the size of South Africa's economy).

​We take a look at South Africa's mining production and sales numbers and track the contribution of various commodities to total mining sales, and find that gold mining has totally lost its shine in South Africa and has been declining in importance to total mining in South Africa since the 1980's
We take a look at the total volume and value of vehicles produced in South Africa over time and find that the volume of vehicles produced over the last 20 years has nearly doubled, while the value of vehicles produced has more than doubled over the last 20 years. Currently SA produces vehicles to the value of R11.7billion a month (after inflation adjustments)
We have updated our South African Economic history page showing the economic growth rates, as well as the average Rand-Dollar exchange rate per president of South Africa as well as per finance minster. GDP per capita per year has also been updated. More data coming soon.
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We take a look at South Africa's manufacturing structure and how this has changed over time. In 1998 Motor vehicles were SA's biggest manufacturing component, in 2008 it was basic iron and steel products, and in 2018 its Meat, fish, fruit etc. SA's manufacturing has undergone a lot of changes in the last 20 odd years.

​​We take a look at South Africa's money supply, specifically notes and coins in circulation and whether increased money supply in South Africa is leading to higher levels of inflation

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We take a look at South Africa's import and export prices and compare it to the Rand, and it shows the behaviour of import and export prices do not behave in the same way as the currency, making us wonder what the actual impact of the Rand is on import inflation and local inflation
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We take a look at South Africa's trade balance (difference between imports and exports) with all the countries that forms part of NAFTA (North American Free Trade Agreement). And South Africa has very favourable trade terms with the USA, but far less so with Mexico, with whom South Africa has a very negative trade balance. And this is largely due to machinery imports from Mexico into South Africa.
We take a look at South Africa's trade balance (difference between imports and exports) with the various countries of the Americas (North, Central and South America), and find that SA's trade with the USA is very favourable for SA, but SA's trade with it's BRICS partner Brazil is very unfavourable for South Africa and very beneficial to Brazil.
We take a look at South Africa's Electricity, water and gas industry based on 2016 data and a report published by Statistics South Africa, and find that less than one third of the employees in this industry are females and that net profit margins in electricity generation is paper thin.

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We take a look at South Africa's economic indicators and compare it to its African peers. In this new page we will update on ad hoc basis we take at the economic growth rates achieved and predicted growth rates from the IMF for various African countries including South Africa.
We take a look at the latest JSE market statistics and find that foreigners have been net sellers of JSE listed shares for 9 out of the last 12 weeks. But for 2018 they are still net buyers of around R16 billion in JSE listed shares, whereas in 2017 over the same time period they were net sellers of R70 billion
We take a look at the similarities of the economies of South Africa and Chile. The countries economic growth rates are fairly similar, exchange rate performance against the US dollar is very similar and commodities exported and imported are very similar.
We take a look at South Africa's crude oil imports from the start of 2018 up to end of May 2018 and find that three countries are responsible for supplying 89% of South Africa's crude so far in 2018. They are Saudi Arabia, Nigeria and Angola.
We take a look at the performance of the South African Rand and various other emerging market currencies against the US dollar. And the Rand while not having a great time against the US dollar is not struggling nearly as much as the Turkish Lira
We take a look at the latest fuel prices hike in South Africa to send petrol prices to another record high, and we highlight just how much of the fuel price is made up by taxes, levies and margins
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Picture of a small coffee shop
We take a look at the profit margins and employee costs as a percentage of total costs of small companies in various industries for the first quarter of 2018. Interestingly the trade industry (wholesale, retail and motor trade) earns almost 34% of all profits earned my small companies during the first quarter of 2018.
We take a look at South African firms total turnover for the last quarter of 2017 and break it down per company size as well as breaking it down per industry and find that small firms are making a significant contribution to turnover in selected industries of the South African economy
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We take a look at South Africa's age distribution per race group living in South Africa and find that South Africa has a aging White population while Black/Africans and Coloureds have relatively younger populations compared to Whites and Indian/Asians
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A homeless person sleeping on the sidewalk

​We take a look at the poverty maps as published and calculated by Statistics South Africa, and while Gauteng has fewer incidences of poverty than the other provinces, when looking at the Gini coefficient the inequality in Gauteng is shown as being extreme. 
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Shipping vessel
We take a look at trade between the United States of America (USA) and South Africa and find that trade between the two countries has been very beneficial for South Africa, with it exporting far more to the USA than what they import from the USA. Perhaps a few tariffs slapped on by president Trump might change this skewed trade balance.
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Stock exchange board

​We take a look at the latest JSE market statistics and find that for the first time in 9 weeks foreigners were net buyers of JSE listed shares, breaking a 2 months streak where foreigners sold more in JSE listed shares than what they bought.
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