{"id":8124,"date":"2022-08-03T09:15:10","date_gmt":"2022-08-03T09:15:10","guid":{"rendered":"https:\/\/www.exportersec.co.za\/?p=8124"},"modified":"2022-08-03T09:18:22","modified_gmt":"2022-08-03T09:18:22","slug":"nelson-mandela-bay-economic-bulletin-july-august-2022","status":"publish","type":"post","link":"https:\/\/www.exportersec.co.za\/?p=8124","title":{"rendered":"Nelson Mandela Bay \u2013 Economic Bulletin (July\/August 2022)"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.16&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.17.6&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p><strong>Nelson Mandela Bay \u2013 Economic Bulletin<\/strong><\/p>\n<p><strong>***July\/August 2022 Update***<\/strong><\/p>\n<p><strong>\u00a0<\/strong>The Nelson Mandela Bay Municipality\u2019s Economic Development, Tourism and Agriculture Directorate recently published an updated Economic Bulletin reporting on the state of the metro\u2019s economy.<\/p>\n<p>As per the published report, it was expected at the time of writing that the economy of Nelson Mandela Bay will grow by 1.3% this year, following a decline of -7.8% year-on year in 2020 and a 6% y-on-y gain in 2021.<\/p>\n<p>In terms of the post-pandemic recovery, NMB\u2019s real GDP in 2021 improved to 97% of the metropole\u2019s real GDP in 2018.<\/p>\n<p>Looking at the labour market, jobs figures released for the first quarter of 2022 indicate that the number of employed persons in Nelson Mandela Bay has increased by almost 22,000 over the previous four quarters. This saw the unemployment rate improve to 36.4% in the first quarter of 2022.<\/p>\n<p>In terms of specific industrial and commercial conditions in the city-region, the number of newly manufactured vehicles shipped from the Port of Port Elizabeth in Gqeberha improved significantly, on average, over the last four reported months compared to the average for the preceding 24 months.<\/p>\n<p>At Nelson Mandela Bay\u2019s two commercial seaports, container traffic has normalised \u2013 following last year\u2019s explosive protests in Kwazulu-Natal which disrupted national traffic \u2013 and is now averaging at 16.7% of national volume over the past ten months (i.e post-July 2021).<\/p>\n<p>In addition, passenger traffic at Nelson Mandela Bay\u2019s Chief Dawid Stuurman International Airport (PLZ) has recovered to 52% of its pre-COVID throughput for the year ending March 2022; 4 percentage points above the national average.<\/p>\n<p>In the property and construction sector, the value of building plans passed in Nelson Mandela Bay in the first five months of 2022 has increased by 3% when compared to the corresponding five months of 2021.<\/p>\n<p><em>(*Please note that subsequent the published Economic Bulletin, the South African Reserve Bank released a revised growth forecast for the national economy; expecting GDP to grow by 2% in 2022, (revised upwards from the 1.7% expected at the time of the Monetary Policy Committee\u2019s meeting in May). This forecast also takes into account an economic contraction expected for 2022Q2. Furthermore, SARB\u2019s GDP growth projections were also reduced to 1.3% in 2023 and 1.5% in 2024.)<\/em><\/p>\n<p>[\/et_pb_text][et_pb_button button_url=&#8221;https:\/\/www.exportersec.co.za\/wp-content\/uploads\/2022\/08\/NMB-Economic-Bulletin-July-2022.pdf&#8221; url_new_window=&#8221;on&#8221; button_text=&#8221;Download the full NMB Economic Bulletin&#8221; _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nelson Mandela Bay \u2013 Economic Bulletin ***July\/August 2022 Update*** \u00a0The Nelson Mandela Bay Municipality\u2019s Economic Development, Tourism and Agriculture Directorate recently published an updated Economic Bulletin reporting on the state of the metro\u2019s economy. As per the published report, it was expected at the time of writing that the economy of Nelson Mandela Bay will [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":8131,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[8],"tags":[],"class_list":["post-8124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exporters-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Nelson Mandela Bay \u2013 Economic Bulletin (July\/August 2022) - Exporters Eastern Cape<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.exportersec.co.za\/?p=8124\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nelson Mandela Bay \u2013 Economic Bulletin (July\/August 2022) - Exporters Eastern Cape\" \/>\n<meta property=\"og:description\" content=\"Nelson Mandela Bay \u2013 Economic Bulletin ***July\/August 2022 Update*** \u00a0The Nelson Mandela Bay Municipality\u2019s Economic Development, Tourism and Agriculture Directorate recently published an updated Economic Bulletin reporting on the state of the metro\u2019s economy. As per the published report, it was expected at the time of writing that the economy of Nelson Mandela Bay will [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.exportersec.co.za\/?p=8124\" \/>\n<meta property=\"og:site_name\" content=\"Exporters Eastern Cape\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/exporterseasterncape\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-03T09:15:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-03T09:18:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.exportersec.co.za\/wp-content\/uploads\/2022\/08\/ships-handled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1192\" \/>\n\t<meta property=\"og:image:height\" content=\"767\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Suzanne Vermeulen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Suzanne Vermeulen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.exportersec.co.za\\\/?p=8124#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.exportersec.co.za\\\/?p=8124\"},\"author\":{\"name\":\"Suzanne Vermeulen\",\"@id\":\"https:\\\/\\\/www.exportersec.co.za\\\/#\\\/schema\\\/person\\\/662a0933bbea877d2a9f2fd3c913c3a0\"},\"headline\":\"Nelson Mandela Bay \u2013 Economic Bulletin (July\\\/August 2022)\",\"datePublished\":\"2022-08-03T09:15:10+00:00\",\"dateModified\":\"2022-08-03T09:18:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.exportersec.co.za\\\/?p=8124\"},\"wordCount\":464,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.exportersec.co.za\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.exportersec.co.za\\\/?p=8124#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.exportersec.co.za\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/ships-handled.jpg\",\"articleSection\":[\"Exporters News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.exportersec.co.za\\\/?p=8124#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.exportersec.co.za\\\/?p=8124\",\"url\":\"https:\\\/\\\/www.exportersec.co.za\\\/?p=8124\",\"name\":\"Nelson Mandela Bay \u2013 Economic Bulletin (July\\\/August 2022) - 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