Supplement March 2015: South Africa's national accounts 1946 – 2014: An overview of sources and methods
Last Modified Date:
2021-02-04, 11:15 AM
Quarterly Bulletins > Supplements
The outcome of the five-yearly benchmarking and rebasing of South Africa’s national accounts statistics, a project jointly undertaken by Statistics South Africa (Stats SA) and the South African Reserve Bank (the Bank), is disseminated in greater detail in this supplement to the March 2015 Quarterly Bulletin. In addition to the comprehensive longer-term revision of national accounts aggregates and time series data, the current revisions also reflect conceptual, methodological and classification changes following the partial implementation of the latest edition of the System of National Accounts (2008 SNA). Comprehensive revisions to South Africa’s national accounts statistics are typically undertaken every five years in order to incorporate new or additional information that became available, to reclassify transactions where necessary and to rebase estimates at constant prices. Market developments and the concomitant emergence of new products and services furthermore continually necessitate changes to compilation practices. The 2008 SNA, which replaced the 1993 version of the SNA, provides an international standard macroeconomic statistical framework for this purpose; both publications were compiled under the auspices of the United Nations, the European Commission, the International Monetary Fund (IMF), the World Bank and the Organisation for Economic Co-operation and Development (OECD). The five-yearly comprehensive revisions differ from the regular annual national accounts revisions due to the scope of the changes and the length of the period to which the revisions apply. The most recent set of revisions drew on information from relevant censuses released by Stats SA during the period 2009 to 2014, a number of sectoral surveys and technical reports, and more detailed producer and consumer price information. Most notable were the 2010/11 Income and Expenditure Survey of Households; the results of the Population Census of 2011; the 2010 General Household Survey; various issues of the Annual Financial Statistics (AFS) survey; various issues of the Quarterly Financial Statistics (QFS) survey; the South African National Survey of Research and Experimental Development compiled by the Centre for Science, Technology and Innovation Indicators (CeSTII) on behalf of the Department of Science and Technology (DST); technical reports from the Department of Agriculture, Forestry and Fishing; the Abstract of Agricultural Statistics for various years; and information sourced from the Department of Human Settlements.