South Africa GDP Growth Rate  1993-2017 | Data | Chart | Calendar

The South African economy unexpectedly contracted an annualized 0.7 percent on quarter in the first three months of 2017, following a 0.3 percent drop in the previous period and compared to market expectations of a 0.9 percent expansion. It is the first recession since 2009 as both trade and manufacturing recorded negative growth rates. GDP Growth Rate in South Africa averaged 2.84 percent from 1993 until 2017, reaching an all time high of 7.60 percent in the fourth quarter of 1994 and a record low of -6.10 percent in the first quarter of 2009.

South Africa GDP Growth Rate
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Calendar GMT Actual Previous Consensus Forecast (i)
2016-12-06 07:30 AM Q3 0.2% 3.5% 0.5% 0.6%
2017-03-07 09:30 AM Q4 -0.3% 0.4% 0.5% 0.6%
2017-06-06 09:30 AM Q1 -0.7% -0.3% 0.9% 0.8%
2017-09-05 09:30 AM Q2 -0.7% 0.7%
2017-12-05 09:30 AM Q3 0.9%




South African Economy Enters Recession In Q1


The South African economy unexpectedly contracted an annualized 0.7 percent on quarter in the first three months of 2017, following a 0.3 percent drop in the previous period and compared to market expectations of a 0.9 percent expansion. It is the first recession since 2009 as both trade and manufacturing recorded negative growth rates.

The largest negative contribution came from trade, catering and accommodation which contracted 5.9 percent, following a 2.1 percent rise in the previous period. Manufacturing also dragged down the GDP, falling for the third straight quarter (-3.7 percent from -3.1 percent), as production of petroleum, chemical products, rubber and plastic products decreased.

Additional downward pressure came from finance, real estate and business services (-1.2 percent from 1.6 percent); transport, storage and communication (-1.6 percent from 2.6 percent ) and utilites (-4.8 percent from 2.4 percent).

In contrast, mining rebounded (12.8 percent from -11.5 percent), boosted by higher production of gold and other metal ores including platinum. Also, agriculture surged 22.2 percent, coming back to growth after 8 straight quarters of declines. The rebound was mainly driven by a jump in production of field crops and horticultural products pointing to a recovery after one of the toughest droughts in recent history.

Year-on-year, the GDP rose 1 percent, higher than 0.7 percent in the previous period and in line with market expectations. It is the highest growth rate since the second quarter of 2015 as mining rebounded and agriculture grew the most in 2 years.  

Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
6/6/2017 11:57:40 AM



South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.70 -0.30 7.60 -6.10 percent [+]
GDP Annual Growth Rate 1.00 0.70 7.10 -2.60 percent [+]
GDP 314.57 351.31 416.42 7.36 USD Billion [+]
GDP Constant Prices 3078342.70 3084842.60 3085998.60 565040.00 ZAR Million [+]
Gross National Product 3062610.00 3061822.00 3062610.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 613858.30 612273.80 644763.00 73065.00 ZAR Million [+]
GDP per capita 7585.80 7610.70 7610.70 4430.30 USD [+]
GDP per capita PPP 12393.26 12434.05 12434.05 9019.11 USD [+]
GDP From Agriculture 68830.07 65470.06 78180.79 33530.55 ZAR Million [+]
GDP From Construction 108963.88 109316.14 109316.14 14702.00 ZAR Million [+]
GDP From Manufacturing 377900.60 381498.22 391090.40 228221.00 ZAR Million [+]
GDP From Mining 230019.40 223211.87 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 475267.70 475929.38 475929.38 90907.00 ZAR Million [+]
GDP From Services 619022.93 620855.80 620855.80 66256.00 ZAR Million [+]
GDP From Transport 263040.32 264114.25 264114.25 89068.60 ZAR Million [+]
GDP From Utilities 63330.55 64119.86 70556.22 46746.92 ZAR Million [+]


South Africa GDP Growth Rate Notes

South Africa is the second largest economy in Africa. The country is rich in natural resources and is a leading producer of platinum, gold, chromium and iron. From 2002 to 2008, South Africa grew at an average of 4.5 percent year-on-year, its fastest expansion since the establishment of democracy in 1994. However, in recent years, successive governments have failed to address structural problems such as the widening gap between rich and poor, low-skilled labour force, high unemployment rate, deteriorating infrastructure, high corruption and crime rates. As a result, since the recession in 2008, South Africa growth has been sluggish and below African average. This page provides - South Africa GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on June of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-0.70 -0.30 7.60 -6.10 1993 - 2017 percent Quarterly



gdp growth rate by Country

Last
India 1.50 Mar/17
Turkey 1.40 Mar/17
China 1.30 Mar/17
United States 1.20 Mar/17
South Korea 1.10 Mar/17
Brazil 1.00 Mar/17
Canada 0.90 Mar/17
Spain 0.80 Mar/17
Mexico 0.70 Mar/17
Euro Area 0.60 Mar/17
Germany 0.60 Mar/17
France 0.50 Mar/17
Italy 0.40 Mar/17
Netherlands 0.40 Mar/17
Australia 0.30 Mar/17
Japan 0.30 Mar/17
Switzerland 0.30 Mar/17
United Kingdom 0.20 Mar/17
Indonesia -0.34 Mar/17
Russia -0.57 Sep/15