Wholesale trade sales show steady growth in Sept 2025

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Measured in real terms (constant 2019 prices), wholesale trade sales increased by 2.9% in September 2025 compared with September 2024, indicating firm demand across several key categories. Month-on-month, seasonally adjusted sales dipped 0.1% compared with August 2025, following increases of 0.9% in August and 0.3% in July.

Despite the marginal monthly decline, the sector ended the quarter on a positive trajectory. Seasonally adjusted wholesale trade sales for the third quarter of 2025 rose 0.8% compared with the second quarter.

Nominal sales strengthened by fuel, food and general goods

Measured at current prices, wholesale trade sales increased by 4.4% in September 2025 compared with the same period last year.

The strongest contributions to this growth came from dealers in:

• Solid, liquid and gaseous fuels and related products (Up 7.2%, contributing 1.5 percentage points)

• Food, beverages and tobacco (Up 7.2%, contributing 1.1 percentage points)

• ‘Other’ goods (Up 10.6%, contributing 0.9 of a percentage point)

• ‘Other’ household goods excluding precious stones (Up 4.4%, contributing 0.5 of a percentage point)

These categories offset weaker performance in machinery and equipment as the sector navigates varied consumer and business demand patterns.

Third-quarter results reflect broader sector support

Wholesale trade sales increased by 2.3% in the third quarter of 2025 compared with the same period in 2024.

The main positive contributors were:

• Food, beverages and tobacco (Up 9.2%, contributing 1.4 percentage points)

• ‘Other’ goods (Up 9.2%, contributing 0.8 of a percentage point)

• Fee or contract basis trade (Up 20.4%, contributing 0.6 of a percentage point)

The quarter’s only significant negative contributor was:

Machinery, equipment and supplies (Down 3.7%, contributing -0.6 of a percentage point)

Sector Outlook

The September and third-quarter findings indicate resilience in South Africa’s wholesale trade sector, supported by strong demand in fuel, food and general merchandise categories. While machinery and equipment remain under pressure, overall growth continues to reflect relative stability amid ongoing economic shifts.

The sector will continue to monitor consumer trends, price movements, and operational costs closely as it enters the final quarter of the year.