Markets Actual Q2 Q3 Q4 Q1 2022
Currency 14.29 14.37 14.52 14.67 14.83 15.14
Government Bond 10Y (%) 9.14 9.2 9.3 9.41 9.52 9.73
Stock Market (points) 67006.34 65716 64319 62949 61606 58920

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 6.30 0.8 1.4 2 -1.3 2.1
GDP Annual Growth Rate (%) -4.10 15 5.1 3.2 2.6 2
Unemployment Rate (%) 32.50 27 27.4 27.1 26.8 26.2
Inflation Rate (%) 3.20 4.9 4.5 4.7 4.6 4.4
Inflation Rate Mom (%) 0.70 -0.2 0.4 0.3 0.3 0.4
Interest Rate (%) 3.50 3.75 3.75 4 4 4
Balance of Trade (ZAR Million) 28960.11 16500 10000 -1542 -1542 20000
Current Account (ZAR Million) 197818.00 -80000 -160000 -120000 -150000 -100000
Current Account to GDP (%) 2.20 1.3 1.3 1.3 -0.8 -0.8
Government Debt to GDP (%) 83.00 90 90 90 92 92
Government Budget (% of GDP) -6.30 -13.7 -13.7 -13.7 -12 -12
Business Confidence (points) 35.00 30 32 35 31 38
Manufacturing PMI (points) 57.40 52 54 52.2 51.6 51.7
Consumer Confidence (points) -9.00 -12 -10 -3 5 8
Retail Sales MoM (%) 6.90 -0.7 2.3 -2.4 0.7 1.3
Corporate Tax Rate (%) 28.00 28 28 28 27 27
Personal Income Tax Rate (%) 45.00 45 45 45 45 45

GDP Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 6.30 0.8 1.4 2 -1.3 2.1
GDP Annual Growth Rate (%) -4.10 15 5.1 3.2 2.6 2
GDP (USD Billion) 351.43 320 320 320 320 345
GDP Constant Prices (ZAR Million) 3006813.40 2989470 3110972 3103031 3084991 3165092
Gross National Product (ZAR Million) 3083515.00 3062866 3205938 3182187 3163686 3245831
Gross Fixed Capital Formation (ZAR Million) 494223.30 520456 504807 510038 507073 520239
GDP per capita (USD) 7346.00 7080 7080 7080 7080 7200
GDP per capita PPP (USD) 12481.80 11800 11800 11800 11800 12500
GDP From Agriculture (ZAR Million) 81674.70 87550 83478 84288 83798 85974
GDP From Construction (ZAR Million) 82047.74 80051 83974 84673 84181 86367
GDP From Manufacturing (ZAR Million) 368775.37 303983 369507 380576 378364 388188
GDP From Mining (ZAR Million) 217191.96 180587 229084 224142 222839 228625
GDP From Public Administration (ZAR Million) 491141.74 562500 515299 506858 503911 516995
GDP From Services (ZAR Million) 620297.86 686328 652323 640147 636426 652950
GDP From Transport (ZAR Million) 232980.56 228191 240933 240436 239038 245245
GDP From Utilities (ZAR Million) 63350.26 64621 66214 65377 64997 66685

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 32.50 27 27.4 27.1 26.8 26.2
Employed Persons 15023.55 14700 16000 16300 16280 16500
Unemployed Persons (Thousand ) 7233.00 6650 6725 6400 3200 6320
Labor Force Participation Rate (%) 56.60 56 58 58.4 58.8 59.1
Wages (ZAR/Month) 23133.00 21600 21600 21600 21600 21600
Wages in Manufacturing (ZAR/Month) 19788.00 19000 19000 19000 19000 19000
Population (Million) 58.80 60.88 60.88 60.88 60.88 61.93
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 60.00 60 60 60 60 60
Employment Rate (%) 38.20 37.6 39 42 43 43
Minimum Wages (ZAR/Hour) 20.76 21.5 21.5 21.5 21.5 22.5
Youth Unemployment Rate (%) 61.30 62 63 63 61.8 62

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 3.20 4.9 4.5 4.7 4.6 4.4
Inflation Rate Mom (%) 0.70 -0.2 0.4 0.3 0.3 0.4
Consumer Price Index CPI (points) 119.30 119 121 126 123 128
Core Consumer Prices (points) 118.00 119 120 121 122 126
Core Inflation Rate (%) 2.50 3.3 3.3 3.6 3.9 4
Producer Prices (points) 101.50 101 104 105 106 109
Producer Prices Change (%) 4.00 4.4 4.4 4.6 4.3 4
Export Prices (points) 195.90 200 205 210 210 215
Import Prices (points) 163.70 165 167 168 168 170
Food Inflation (%) 5.70 4.7 4.5 4 4.2 3.8
CPI Housing Utilities (points) 118.10 119 121 127 124 129
CPI Transportation (points) 119.90 119 115 130 120 125
Inflation Expectations (Percent) 4.21 4 3.8 3.6 3.4 3.4

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 3.50 3.75 3.75 4 4 4
Interbank Rate (%) 3.68 3.68 3.93 6.9 4.18 4.18
Money Supply M0 (ZAR Million) 294316.00 278000 300000 280000 283000 283000
Money Supply M1 (ZAR Million) 2196506.00 2300000 2100000 2055000 1840000 1820000
Money Supply M2 (ZAR Million) 3445466.00 3491000 3470000 3300000 3200000 3180000
Money Supply M3 (ZAR Million) 4158705.00 4200000 4170000 4150000 4100000 4050000
Banks Balance Sheet (ZAR Million) 6523855.00 6530000 6480000 6100000 5900000 5750000
Foreign Exchange Reserves (USD Million) 52995.00 54200 53800 54500 54100 53700
Deposit Interest Rate (%) 3.80 3.8 4.05 4.05 4.3 4.3
Central Bank Balance Sheet (ZAR Million) 884466.00 940000 870000 855000 830000 840000

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (ZAR Million) 28960.11 16500 10000 -1542 -1542 20000
Current Account (ZAR Million) 197818.00 -80000 -160000 -120000 -150000 -100000
Current Account to GDP (%) 2.20 1.3 1.3 1.3 -0.8 -0.8
Imports (ZAR Million) 99289.05 108000 112000 95000 97000 100000
Exports (ZAR Million) 128249.17 118000 125000 107000 110000 120000
External Debt (USD Million) 170836.00 180000 183000 180000 178000 185000
Tourist Arrivals 195861.00 115000 118500 160000 250000 400000
Foreign Direct Investment (ZAR Billion) 16010.00 16000 25000 -6000 18000 -2500
Weapons Sales (USD Million) 37.00 125 125 125 125 95
Terms Of Trade (points) 119.70 106 104 106 106 108

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (%) 83.00 90 90 90 92 92
Government Budget (% of GDP) -6.30 -13.7 -13.7 -13.7 -12 -12
Government Budget Value (ZAR Million) -16372.00 -80000 -60000 1391262 -28000 -50000
Government Spending (ZAR Million) 655551.00 750423 687119 676529 672595 690059
Government Revenues (ZAR Million) 133241.00 100000 120000 140000 95000 110000
Government Debt (USD Million) 78295.00 78000 81000 83000 78000 81000
Fiscal Expenditure (ZAR Million) 149613.00 160000 155000 168000 135000 160000
Military Expenditure (USD Million) 3617.00 3400 3400 3400 3270 3270

Taxes Actual Q2 Q3 Q4 Q1 2022
Corporate Tax Rate (%) 28.00 28 28 28 27 27
Personal Income Tax Rate (%) 45.00 45 45 45 45 45
Sales Tax Rate (%) 15.00 15 15 15 15 15
Social Security Rate (%) 2.00 2 2 2 2 2
Social Security Rate For Companies (%) 1.00 2 2 2 2 2
Social Security Rate For Employees (%) 1.00 1 1 1 1 1

Business Actual Q2 Q3 Q4 Q1 2022
Business Confidence (points) 35.00 30 32 35 31 38
Manufacturing PMI (points) 57.40 52 54 52.2 51.6 51.7
Industrial Production (%) -2.10 -5 -2 -1.7 1.4 2
Industrial Production Mom (%) -1.20 -0.7 1.3 2 1 0.9
Capacity Utilization (%) 78.10 67 80 81 81.5 82
Bankruptcies (Companies) 178.00 145 170 220 155 180
Total Vehicle Sales (Units) 44217.00 38500 39400 41000 39100 41700
Car Registrations 27330.00 24400 26000 28000 24000 26300
Leading Economic Index (%) 2.00 2.5 0.5 1.6 1.3 1
Electricity Production (Gigawatt-hour) 18566.00 19650 20800 19800 20300 21000
Coincident Index (points) 94.00 89.5 91.3 91.6 89.7 92
Composite PMI (points) 50.30 49.8 50 50.5 49.7 51
Gold Production (%) -8.70 -3 0.7 1.6 2.7 3.4
Mining Production (%) 0.80 -10 -3 5 2.5 2
Steel Production (Thousand Tonnes) 292.30 420 440 420 420 530

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) -9.00 -12 -10 -3 5 8
Retail Sales MoM (%) 6.90 -0.7 2.3 -2.4 0.7 1.3
Retail Sales YoY (%) 2.30 -5 -3 -1.2 3 2.6
Consumer Spending (ZAR Million) 1917965.00 1882658 1979783 1979340 1967832 2018927
Disposable Personal Income (ZAR Million) 3145736.00 3012557 3205722 3246400 3227525 3311328
Personal Savings (%) 0.50 0.4 0.4 0.6 0.6 0.6
Private Sector Credit (%) 2.62 6.5 5.8 6.3 6.3 6.5
Bank Lending Rate (%) 7.00 7 7.25 10 7.5 7.5
Gasoline Prices (USD/Liter) 1.09 0.93 0.88 0.86 0.8 0.76
Households Debt To GDP (% of GDP) 35.80 35.6 35.7 35.8 36 36
Households Debt To Income (%) 77.10 73 73 73 75 75

Housing Actual Q2 Q3 Q4 Q1 2022
Building Permits (ZAR Thousand) 10550184.00 4800000 8000000 7000000 6700000 7200000


This page has economic forecasts for South Africa including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the South Africa economy.