October 2022

17 October 2022 – Global schedule reliability is continuing to trend upwards, recording the largest month-on-month (m-o-m) increase in 2022 of 5.8 percentage points, reaching 46.2% in August. That’s according to the latest Global Liner Performance (GLP) report compiled by maritime consultancy Sea-Intelligence, based on schedule reliability figures up to and including August. The average delay for […]

14 October 2022 -South African exporters are losing ZAR815 million ($45 million) worth of trade per day due to ongoing disruptions brought about by workforce strikes. The Minerals Council South Africa, whose members account for more than 80 per cent of Transnet’s rail business and 50 per cent of the group’s income, notes that mineral exproters

13 October 2022 – It has been a very bad year for businesses in South Africa. According to Statistics SA, business liquidations soared by 44.8% in the year to August 2022. In the preliminary Statistics of Liquidations and Insolvencies report, the government noted that “the total number of liquidations increased by 9.8% in June 2022

12 October 2022 –  The International Monetary Fund downgraded its outlook for South African economic growth for 2022 to 2.1% from 2.3% previously, a forecast that already looks optimistic and out of touch with the realities on the ground. It also expects more than a third of the global economy to contract this year or

11 October 2022 – Revenue from South African wine exports increased by 21% to $750 million (~R14 billion) in 2021 – an improvement that brought it back to pre-pandemic levels, despite the problems at the country’s harbours, said Minister of Agriculture, Land Reform, and Rural Development Thoko Didiza. Wine was SA’s fourth largest agricultural export

10 October 2022 – The United Nations food agency’s world price index fell for a sixth month in a row in September, receding from all-time highs posted earlier this year after Russia invaded Ukraine. The Food and Agriculture Organization (FAO) said on Friday that its price index, which tracks the most globally traded food commodities,

7 October 2022 – In contrast to record heat waves in the northern hemisphere, South Africa could expect lower-than-normal maximum temperatures this summer and good rainfall, Weather SA says. The weather forecast suggests it will remain in a La Niña phase, which for Southern Africa implies likely another good rainy season, according to agricultural economist

6 October 2022 – Despite excessive load-shedding and a weakening economy, SA’s brand value has increased by 23% to $215bn, according to valuation consultancy Brand Finance. In fact, Sub-Saharan Africa is strongly represented among the top 20 fastest-growing nation brands this year, led by SA and Tanzania (brand value up 23% to $41bn), and followed

5 October 2022 – The South African Revenue Service’s (SARS) trade statistics for August 2022 recorded a preliminary trade balance surplus of R7.18 billion. These statistics include trade data with Botswana, Eswatini, Lesotho and Namibia (BELN), the revenue collector said in a statement. “The year-to-date (01 January to 31 August 2022) preliminary trade balance surplus

4 October 2022 – Demand for bulk commodities is expected to increase throughout the rest of the year and well into 2023, despite ongoing risks to the global economy. According to Niels Rasmussen, chief shipping analyst for international shipping association Bimco, there’s been upheaval in the market since the outbreak of Covid-19, and while the