Flatsak SA’ers still like to eat out


South Africans may be struggling financially, but they still eat and drink well.

The food and beverage industry’s figures for May this year increased by 6.7% in real terms compared to May last year.

Statistics South Africa (StatsSA) says that restaurants and coffee shops performed particularly well, with restaurants and coffee shops earning 9.5% more year-on-year and contributing 4.4 percentage points to the industry’s overall revenue.

Fast food outlets performed 4.2% better than the year before.

Seasonally adjusted revenue for the food and beverage industry increased by 0.8% in May this year when compared to April. This followed month-on-month changes of 2.3% in April 2023 and -1.3% in March 2023.

Fewer businesses liquidated

The number of businesses that were liquidated also decreased by 11.7% year-on-year in June this year.

StatsSA says there was a decrease of 17.0% in the second quarter of 2023 compared to the second quarter of 2022. The overall number of liquidations decreased by 14% in the first six months of this year compared to the first six months of 2022.

Less goods transported

According to StatsSA’s statistics, the number of goods transported on South African roads and railways decreased by 0.3% year-on-year in May this year. The industry’s revenue nevertheless increased by 2.2% over the same period.

Revenue from freight transport increased by 6.8% between March, April and May this year compared to the year before. The most important positive contributors to this increase were primary mining and quarrying products (12.9%), as well as manufactured food, beverages and tobacco products (6.0%).