South Africa GDP Growth Accelerates in Q4

In the fourth quarter of 2012, South Africa real GDP at market prices increased by 2.1 per cent quarter-on-quarter. The main contributors were the agriculture sector, manufacturing industry, and finance, real estate and business services.

Agriculture, forestry and fishing industry expanded 10 percent in the fourth quarter of 2012, mainly due to an increase in animal products.

The manufacturing industry increased 5 percent due to a strong development in the production of petroleum, chemical products, rubber and plastic products; wood and wood products, paper, publishing and printing; basic iron and steel, nonferrous metal products and machinery; and glass and non-metallic mineral products.

Finance, real estate and business services grew 2.9 percent, as a result of increased activities in commercial banks and general government services expanded 2.6 percent.

Wholesale, retail and motor trade expanded 1.5 percent due to increases in turnover, while catering and accommodation industry and the transport, storage and communication industry increased 1.9 percent.

The economic activity in the mining and quarrying industry reflected negative growth of 9.3 percent due to lower production in gold mining and mining of other metal ores including platinum; and the electricity, gas and water industry reflected negative growth of 2.2 percent, due to lower consumption in electricity and water.

The largest industries, in the fourth quarter of 2012, were finance, real estate and business services, accounting for 21.1 percent of total output, wholesale, retail and motor trade; catering and accommodation industry (17.8 percent), general government services (16.9 percent) and the manufacturing industry (12.4 percent).

Statistics South Africa | Joana Taborda |
2/26/2013 11:43:49 AM