Markets Actual Q3 Q4 Q1 Q2 2021
Currency 17.12 17.04 17.21 17.39 17.58 17.95
Government Bond 10Y (%) 9.49 9.54 9.65 9.76 9.87 10.1
Stock Market (points) 53587.11 53092 51964 50857 49772 47602

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -51.00 15 7 -3 1.3 1.8
GDP Annual Growth Rate (%) -17.10 -10 -8.2 -3.5 2 3.9
Unemployment Rate (%) 30.10 35.1 35 37 37.2 37
Inflation Rate (%) 3.20 3.2 3.3 3.4 4.6 4
Inflation Rate Mom (%) 1.30 0.3 0.3 0.2 -0.2 0.3
Interest Rate (%) 3.50 3.5 3.5 3.5 3.5 3.75
Balance of Trade (ZAR Million) 37420.00 7000 -1258 27500 10000 -1542
Current Account (ZAR Million) -103587.00 -170000 -47500 -170000 -210000 -145000
Current Account to GDP (%) -3.00 -1.6 -1.6 -2.6 -2.6 -2.6
Government Debt to GDP (%) 62.20 81.8 81.8 83 83 83
Government Budget (% of GDP) -6.30 -14.6 -14.6 -15.4 -15.4 -15.4
Business Confidence (points) 24.00 24 28 30 32 34
Manufacturing PMI (points) 57.30 58.4 52 49.7 48.6 51.4
Consumer Confidence (points) -23.00 -23 -20 -13 2 7
Retail Sales MoM (%) -1.10 3.5 -8 3 5 5
Corporate Tax Rate (%) 28.00 28 28 28 28 28
Personal Income Tax Rate (%) 45.00 45 45 45 45 45

GDP Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -51.00 15 7 -3 1.3 1.8
GDP Annual Growth Rate (%) -17.10 -10 -8.2 -3.5 2 3.9
GDP (USD Billion) 351.43 295 295 320 320 320
GDP Constant Prices (ZAR Million) 2597611.30 2994786 2885101 3016524 2649564 2997620
Gross National Product (ZAR Million) 3184074.00 2966660 2897146 3072631 3247755 3010135
Gross Fixed Capital Formation (ZAR Million) 451384.00 582460 548220 547349 460412 569601
GDP per capita (USD) 7346.00 7180 7180 7080 7080 7080
GDP per capita PPP (USD) 12481.80 11200 11200 11800 11800 11800
GDP From Agriculture (ZAR Million) 74360.51 65329 61895 69281 75848 64309
GDP From Construction (ZAR Million) 70039.94 98279 93527 97142 71441 97175
GDP From Manufacturing (ZAR Million) 263733.45 363448 349579 359430 269008 363213
GDP From Mining (ZAR Million) 154191.69 215043 208754 206526 157276 216895
GDP From Public Administration (ZAR Million) 489362.23 464712 448600 472975 499149 466095
GDP From Services (ZAR Million) 612770.83 624060 607089 644037 625026 630765
GDP From Transport (ZAR Million) 200788.92 257915 244592 257458 204805 254131
GDP From Utilities (ZAR Million) 56192.43 61284 58616 60727 57316 60902

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 30.10 35.1 35 37 37.2 37
Employed Persons 10231000.00 10100000 10200000 10200000 10180000 10230000
Unemployed Persons (Thousand ) 7069.65 7900 7850 7940 8000 8200
Labor Force Participation Rate (%) 60.30 59.1 59 59 59.7 60.4
Wages (ZAR/Month) 22387.00 21000 21600 21600 21600 21600
Wages in Manufacturing (ZAR/Month) 19114.00 18500 19000 19000 19000 19000
Population (Million) 58.80 59.83 59.83 60.88 60.88 60.88
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 60.00 60 60 60 60 60
Minimum Wages (ZAR/Hour) 20.76 20.76 20.76 21.5 21.5 21.5
Youth Unemployment Rate (%) 59.00 63 62 61.7 62.3 63
Employment Rate (%) 42.14 42.2 43.3 43.3 43.4 43.5

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) 3.20 3.2 3.3 3.4 4.6 4
Inflation Rate Mom (%) 1.30 0.3 0.3 0.2 -0.2 0.3
Consumer Price Index CPI (points) 116.40 117 118 120 120 122
Core Consumer Prices (points) 115.80 116 117 119 119 121
Core Inflation Rate (%) 3.20 3.3 3.4 3.5 3.8 3.7
Producer Prices (points) 116.00 119 119 120 119 124
Producer Prices Change (%) 1.90 4.2 4 3.8 4.1 4.3
Food Inflation (%) 4.30 4 3.8 4.1 4.2 4
Inflation Expectations (Percent) 4.22 4.3 4.2 4.5 4.6 5
CPI Housing Utilities (points) 117.60 118 119 120 121 124
CPI Transportation (points) 114.60 119 120 119 114 125

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 3.50 3.5 3.5 3.5 3.5 3.75
Interbank Rate (%) 3.36 3.36 3.36 3.36 3.36 3.36
Money Supply M0 (ZAR Million) 307537.00 273000 273000 273000 273000 284333
Money Supply M1 (ZAR Million) 2054313.00 1769000 1769000 1769000 1769000 1768608
Money Supply M2 (ZAR Million) 3344223.00 2938000 2938000 2938000 2938000 2941486
Money Supply M3 (ZAR Million) 4127754.00 3715000 3715000 3715000 3715000 3883648
Banks Balance Sheet (ZAR Million) 6532621.00 6650000 6625000 6595000 6593000 6600000
Foreign Exchange Reserves (USD Million) 55748.00 54000 55000 53300 54000 54500
Deposit Interest Rate (%) 4.37 4.51 4.51 4.51 4.51 4.51
Central Bank Balance Sheet (ZAR Million) 1039555.00 1065000 1075000 1060000 1065000 1070000

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (ZAR Million) 37420.00 7000 -1258 27500 10000 -1542
Current Account (ZAR Million) -103587.00 -170000 -47500 -170000 -210000 -145000
Current Account to GDP (%) -3.00 -1.6 -1.6 -2.6 -2.6 -2.6
Imports (ZAR Million) 85065.57 103000 93000 96500 105000 106500
Exports (ZAR Million) 122489.50 110000 100000 124000 115000 120000
External Debt (USD Million) 155624.00 174000 175600 180000 175000 180000
Tourist Arrivals 68914.00 400000 450000 750000 800000 830000
Foreign Direct Investment (ZAR Billion) 29012.00 13200 -3400 13000 25000 15000

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 62.20 81.8 81.8 83 83 83
Government Budget (% of GDP) -6.30 -14.6 -14.6 -15.4 -15.4 -15.4
Government Budget Value (ZAR Million) -95400.00 -41000 -20000 -6000 -20000 -13000
Government Spending (ZAR Million) 654497.00 620678 599514 632956 667587 622895
Government Revenues (ZAR Million) 64026.00 114000 150000 142000 140000 152000
Government Debt (USD Million) 56634.00 83000 84500 85000 85500 86000
Fiscal Expenditure (ZAR Million) 159426.00 155000 170000 148000 160000 165000
Military Expenditure (USD Million) 3449.00 3250 3250 3250 3250 3050

Taxes Actual Q3 Q4 Q1 Q2 2021
Corporate Tax Rate (%) 28.00 28 28 28 28 28
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 Q3 Q4 Q1 Q2 2021
Business Confidence (points) 24.00 24 28 30 32 34
Manufacturing PMI (points) 57.30 58.4 52 49.7 48.6 51.4
Industrial Production (%) -10.60 2 1.5 1.5 1.5 1.3
Industrial Production Mom (%) 7.60 12 -8 -1.4 2 -3
Capacity Utilization (%) 80.00 80 81.3 81.3 81.5 81.4
Bankruptcies (Companies) 193.00 183 180 180 180 220
Total Vehicle Sales 33515.00 35000 38000 40000 38700 40000
Car Registrations 19545.00 30400 24000 25200 18000 27000
Leading Economic Index (%) 2.60 -0.3 0.2 0.5 0.6 0.5
Mining Production (%) -9.10 0.4 0.6 0.6 -6 1.2
Coincident Index (points) 82.80 89 91.4 90.7 89.5 91.7
Composite Pmi (points) 45.30 47 47.7 48.1 48.5 49
Electricity Production (Gigawatt-hour) 21542.00 21000 20000 20200 21000 21670
Gold Production (%) -10.20 -14 -13 -13 -7.5 -8

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Confidence (points) -23.00 -23 -20 -13 2 7
Retail Sales MoM (%) -1.10 3.5 -8 3 5 5
Retail Sales YoY (%) -9.00 2.8 0.6 1.2 2.5 2
Consumer Spending (ZAR Million) 1656067.00 1861767 1805129 1898373 1689188 1875529
Disposable Personal Income (ZAR Million) 3113124.00 2914876 2855248 3004165 3175386 2966603
Personal Savings (%) -0.50 0.6 0.4 0.4 0.4 0.6
Private Sector Credit (%) 5.12 6.1 7 6.3 6.5 6.5
Bank Lending Rate (%) 7.00 7 7 7 7 7
Households Debt To GDP (% of GDP) 34.50 33 36 36 36 36
Households Debt To Income (%) 72.80 69 69 69 69 70
Gasoline Prices (USD/Liter) 0.91 0.74 0.7 0.67 0.64 0.6

Housing Actual Q3 Q4 Q1 Q2 2021
Building Permits (ZAR Thousand) 5296534.00 -30 5600000 6400000 8150000 7000000


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.