Eastern Cape Ocean Economy Satellite Account

This study developed the satellite account for the Eastern Cape province ocean economy. As of now, South Africa has not fully implemented a dedicated satellite account for its ocean economy. Nonetheless, the country has recognized the significant potential of its marine resources and has initiated several strategic frameworks to harness this potential. In line with the frameworks established by both the System of National Accounts (SNA) and the European System of Accounts (ESA), specifically the 1993 and 2008 SNA, as well as the 1995 and 2008 ESA, the annual estimates for Gross Value Added (GVA), final demand, total production output, and intermediate consumption expenditure for the Ocean Economy Satellite Account should be extracted from the Supply and Use Tables. In this respect, the Eastern Cape Ocean Economy Satellite Account was estimated using the Eastern Cape Supply and Use Tables for the reference year 2023. In 2023, the Eastern Cape Ocean economy was estimated at R27 942 million, representing 5.2% of the overall Eastern Cape economy.