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

The South African economy expanded an annualized 2.5 percent on quarter in the three months to June of 2017, ending two quarters of contraction and beating market expectations of a 2.1 percent rise. It is the strongest growth rate in a year with agriculture, forestry and fishing making the largest upward contribution, namely field crops and horticultural products. 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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South Africa GDP Growth Beats Expectations in Q2


The South African economy expanded an annualized 2.5 percent on quarter in the three months to June of 2017, ending two quarters of contraction and beating market expectations of a 2.1 percent rise. It is the highest growth rate in a year with agriculture, forestry and fishing making the largest upward contribution, namely field crops and horticultural products.

Agriculture, forestry and fishing jumped 33.6 percent, higher than a 23.1 percent increase in Q1. Additional upward contributions came from finance, real estate and business services (2.5 percent, recovering from a 1.2 percent decline in Q1); mining and quarrying (3.9 percent compared to 13.1 percent in Q1), namely coal, gold, manganese ore and iron ore and other’ mining and quarrying including diamonds; manufacturing (1.5 percent to -3.7 percent in Q1), mainly food and beverages, motor vehicles, parts and accessories and other transport equipment; electricity, gas and water supply (8.8 percent compared to -4.8 percent); transport and communication (2.2 percent compared to -1.6 percent in Q1); trade (0.6 percent compared to -5.9 percent in Q1) and personal services (1.1 percent compared to -0.1 percent in Q1).

In contrast, general government services decreased by 0.6 percent (-0.7 percent in Q1) and construction went down 0.5 percent (-0.8 percent in Q1), with falls seen in both residential and non-residential buildings.

Year-on-year, the economy advanced 1.1 percent, above 1 percent in the previous quarter and the highest annual growth rate in two years. Considering the first half of 2017, the economy advanced 1.1 percent. 

Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
9/5/2017 10:26:48 AM


Recent Releases

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.
Published on 2017-06-06

South African GDP Unexpectedly Shrinks 0.3% in Q4
The South African economy contracted an annualized 0.3 percent on quarter in the three months to December of 2016, compared to an upwardly revised 0.4 percent growth in the previous quarter and missing market consensus of a 0.5 percent expansion. It was the first contraction since the March quarter of 2016 driven by mining and quarrying and manufacturing industries.
Published on 2017-03-07

South Africa GDP Growth Slows to 0.2% QoQ in Q3
The South African economy expanded an annualized 0.2 percent on quarter in the three months to September of 2016, compared to an upwardly revised 3.5 percent growth in the June quarter and below market estimates of a 0.5 percent expansion. It was the second straight quarter of growth, mainly supported by mining, general government services and real estate activities while manufacturing shrank.
Published on 2016-12-06

South Africa GDP Growth at 1-1/2-Year High in Q2
The South African economy advanced an annualized 3.3 percent on quarter in the three months to June of 2016, recovering from a 1.2 percent contraction in the previous period and beating market expectations of a 2.3 percent increase. It is the highest growth rate since the last three months of 2014, mainly boosted by manufacturing, mining and real estate activities.
Published on 2016-09-06



Calendar GMT Actual Previous Consensus TEForecast
2017-03-07 09:30 AM GDP Growth Rate QoQ -0.3% 0.4% 0.5% 0.6%
2017-06-06 09:30 AM GDP Growth Rate QoQ -0.7% -0.3% 0.9% 0.8%
2017-09-05 09:30 AM GDP Growth Rate QoQ 2.5% -0.6% 2.1% 1.5%
2017-12-05 09:30 AM GDP Growth Rate QoQ 2.5% 0.9%


South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.50 -0.60 7.60 -6.10 percent [+]
GDP Annual Growth Rate 1.10 1.00 7.10 -2.60 percent [+]
GDP 294.84 317.41 416.42 7.58 USD Billion [+]
GDP Constant Prices 3097941.40 3078342.70 3097941.40 565040.00 ZAR Million [+]
Gross National Product 3078829.00 3062610.00 3078829.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 610160.00 614256.30 644763.00 73065.00 ZAR Million [+]
GDP per capita 7504.30 7605.40 7627.90 4543.60 USD [+]
GDP per capita PPP 12260.20 12425.30 12462.00 9014.30 USD [+]
GDP From Agriculture 74142.00 68965.00 78180.79 33530.55 ZAR Million [+]
GDP From Construction 108975.00 109101.88 109316.14 14702.00 ZAR Million [+]
GDP From Manufacturing 379277.00 377900.60 391090.40 228221.00 ZAR Million [+]
GDP From Mining 232402.00 230181.40 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 474286.00 475052.70 475929.38 90907.00 ZAR Million [+]
GDP From Services 622919.00 619022.93 622919.00 66256.00 ZAR Million [+]
GDP From Transport 264492.00 263040.32 264492.00 89068.60 ZAR Million [+]
GDP From Utilities 64676.00 63330.55 70556.22 46746.92 ZAR Million [+]


South Africa GDP Growth Rate

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 September of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
2.50 -0.60 7.60 -6.10 1993 - 2017 percent Quarterly




gdp growth rate by Country

Last
Indonesia 4.00 Jun/17
United States 3.00 Jun/17
Turkey 2.10 Jun/17
China 1.70 Jun/17
India 1.50 Mar/17
Netherlands 1.50 Jun/17
Canada 1.10 Jun/17
Spain 0.90 Jun/17
Australia 0.80 Jun/17
Euro Area 0.60 Jun/17
Germany 0.60 Jun/17
Japan 0.60 Jun/17
Mexico 0.60 Jun/17
South Korea 0.60 Jun/17
France 0.50 Jun/17
Italy 0.40 Jun/17
Switzerland 0.30 Jun/17
United Kingdom 0.30 Jun/17
Brazil 0.20 Jun/17
Russia -0.57 Sep/15