Research on the performance of the manufacturing sector



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Gross fixed capital formation in the SA manufacturing sector


The gross fixed capital formation (GFCF) is used to measure the net additions the (physical) capital stock. Capital is needed in any industry to improve productivity and increase competitiveness. It is also an indicator of long term commitment and a supply driven component in the economy to secure long-term economic growth.

Figure shows the GFCF for the manufacturing industry in SA in constant 2005 prices (at an annualised rate). The data shows that the GFCF increased from around R36 billion in 1990 to around R65.7 billion in 2011, an average increase of less the 1.5% per year over the period. Although the manufacturing GFCF increased at a low rate in rant terms, it decreased as a percentage of total GFCF in SA (from 23.7% in 1990Q1 to 17.2% in 2011Q3) although it recovered slightly from a low of 14.6% at the high of the international financial crisis in 2009Q3).

Figure : Gross fixed capital formation in the manufacturing sector (1990 to 2011)
Source: Data from the SA Resbank

The future growth of manufacturing sub-sectors will depend on the amount of current and historic investment. Table shows the gross capital formation in selected manufacturing sectors for the period 2007 to 2010. Motor vehicles and parts received the highest capital investment (R84 billion in 2010 or almost 32% of manufacturing gross capital formation), followed by special machinery at R57.5 billion in 2010 (or 21.8%). Other sectors that also received relatively high investments are electrical machinery (R25.5 billion in 2010 or 9.7%), office machinery (R22.6 billion or 8.6%) and medical appliances (RR18 billion or 6.9%).



Table : Gross capital formation in manufacturing for 2007 – 2010 (nominal values)




2007

2008

2009

2010

Meat

-

-

-

-

Fish

-

-

-

-

Vegetables

-

-

-

-

Fruit and nuts

-

-

-

-

Oils and fats

-

-

-

-

Dairy products

-

-

-

-

Grain mill products

-

-

-

-

Starches products

-

-

-

-

Animal feeding

-

-

-

-

Bakery products

-

-

-

-

Sugar

-

-

-

-

Confectionary products

-

-

-

-

Pasta products

-

-

-

-

Food n.e.c.

-

-

-

-

Alcohol, beverages

-

-

-

-

Soft drinks

-

-

-

-

Tobacco products

-

-

-

-

Textile fabrics

-

-

-

-

Made-up textile, articles

15

19

19

19

Carpets

-

-

-

-

Textile n.e.c.

-

-

-

-

Knitting fabrics

-

-

-

-

Wearing apparel

-

-

-

-

Leather products

0

0

0

0

Footwear

-

-

-

-

Wood products

-

-

-

-

Paper products

-

-

-

-

Printing

1

1

1

1

Petroleum products

358

459

460

459

Basic chemicals

-

-

-

-

Fertilizers, pesticides

-

-

-

-

Paint, related products

-

-

-

-

Pharmaceutical products

-

-

-

-

Soap, cleaning, perfume

-

-

-

-

Chemical products, n.e.c.

-

-

-

-

Rubber tyres

2

2

2

2

Other rubber products

-

-

-

-

Plastic products

6

8

8

8

Glass products

0

0

0

0

Non-structural ceramic

10

12

12

12

Structure non-refractory clay

-

-

-

-

Plaster, cement

-

-

-

-

Articles of concrete

-

-

-

-

Non-metallic products n.e.c.

-

-

-

-

Furniture

3 042

5 491

5 380

5 341

Jewellery

-

-

-

-

Manufactured products n.e.c.

807

1 035

1 037

1 034

Wastes, scraps

-

-

-

-

Iron, steel products

-

-

-

-

Non-ferrous metals

172

221

221

221

Structural metal products

191

244

245

244

Tanks, reservoirs

74

95

95

445

Other fabricated metal

36

47

47

47

Engines, turbines

10 213

11 837

10 517

10 510

Pumps, compressors

5 553

7 067

5 354

5 342

Bearings, gears

857

1 299

1 204

1 201

Lifting equipment

1 109

1 609

1 620

1 018

General machinery

6 052

9 011

8 920

8 576

Special machinery

56 272

70 161

61 151

57 491

Domestic appliances

1 134

1 454

1 457

1 453

Office machinery

22 482

28 761

22 399

22 635

Electrical machinery

22 611

28 981

26 036

25 465

Radio, television

3 856

5 661

1 396

2 352

Medical appliances

16 713

22 239

18 538

18 255

Motor vehicles, parts

61 113

83 532

84 252

84 061

Ships and boats

3 150

3 300

2 946

3 031

Railway and trams

2 250

2 800

2 639

2 639

Aircrafts

7 918

12 604

9 964

10 011

Other transport equipment

-

-

-

1 700

Source: Stats SA
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