Wholesale trade for 2003 was 17% higher than previously reported, motor trade 17% higher, and retail trade 20% higher, Statistics South Africa (Stats SA) said on Wednesday.
This represents a difference of about R70-billion on wholesale trade, R47-billion on retail trade and R21-billion on motor trade, Stats SA said in its latest release.
The figures are a correction of previous underreporting, Stats SA explained. They are based on a new expanded business register drawn from the South African Revenue Service’s VAT database.
The register includes all businesses in South Africa registered to collect VAT on the goods and services they sell. It comprises about 700 000 businesses compared with Stats SA’s previously listed 450 000.
The adjustment is aimed at improving coverage of Stats SA’s economic series, statistician general Pali Lehohla said in a statement.
Even though there has been a change in the levels of trade sales, the trends remain similar.
”This means that the rate of change at the macro-economic level, as measured by gross domestic product, remains largely unaffected.”
The increased levels are consistent with manufacturing statistics released last month — also based on the new register.
It shows that manufacturing sales for 2003 were actually R717-billion — 17% higher than the R613,6-billion previously reported.
Similar rises have also been found in the survey of employment and earnings.
Stats SA on Wednesday also released the latest manufacturing, motor and retail trade figures based on the new register.
Real wholesale trade sales at constant 2000 prices for the first quarter of the year grew by 6,3% from the same period last year. Calculations based on constant prices exclude the effects of inflation.
The same figure for retail rose by 6,4% and for motor trade 12,8%, Stats SA said. — Sapa