The South African GDP shrank 1.5% on quarter in the three months to September of 2021, after a downwardly revised 1.1% rise in the second quarter and compared with market estimates of a 1.2% decline. This was the first economic contraction after four consecutive quarters of growth. Six out of ten industries recorded a decline in production, with agriculture (-13.6% vs 6.2% in Q2), trade (-5.5% vs 2.2%) and manufacturing (-4.2% vs -1%) the hardest hit, amid the twin impact of social unrest during July and tighter lockdown restrictions. The transport and communications industry also shrank (-2.2% vs 6.9%), as road freight transport into and out of KwaZulu-Natal was severely disrupted by the violence, and several domestic airlines recorded flight cancellations following travel restrictions imposed by the Alert Level 4 lockdown. Year-on-year, the economy advanced by 2.9%, slowing from a record 19.1% growth in the prior period and below market forecasts of a 3.5% rise. source: Statistics South Africa

GDP Growth Rate in South Africa averaged 0.62 percent from 1993 until 2021, reaching an all time high of 13.90 percent in the third quarter of 2020 and a record low of -17.40 percent in the second quarter of 2020. This page provides - South Africa GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2021.

GDP Growth Rate in South Africa is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa GDP Growth Rate is projected to trend around 1.00 percent in 2022 and 0.60 percent in 2023, according to our econometric models.

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South Africa GDP Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-09-07 09:30 AM Q2 1.2% 1% 0.7% 2.5%
2021-12-07 09:30 AM Q3 -1.5% 1.1% -1.2% -1.5%
2022-03-08 09:30 AM Q4 -1.5%


Related Last Previous Unit Reference
GDP Growth Rate -1.50 1.10 percent Sep/21
GDP Annual Growth Rate 2.90 19.10 percent Sep/21
GDP Constant Prices 4428864.00 4499960.40 ZAR Million Sep/21
GDP From Utilities 104419.97 104042.36 ZAR Million Sep/21
GDP From Transport 335001.08 342494.83 ZAR Million Sep/21
GDP From Services 1060482.98 1047849.46 ZAR Million Sep/21
GDP From Public Administration 370979.33 369590.59 ZAR Million Sep/21
GDP From Mining 214793.15 216717.01 ZAR Million Sep/21
GDP From Manufacturing 509042.60 531238.96 ZAR Million Sep/21
GDP From Construction 110760.00 111306.36 ZAR Million Sep/21
GDP From Agriculture 112164.42 129761.84 ZAR Million Sep/21

News Stream
South Africa GDP Contracts More than Expected in Q3
The South African GDP shrank 1.5% on quarter in the three months to September of 2021, after a downwardly revised 1.1% rise in the second quarter and compared with market estimates of a 1.2% decline. This was the first economic contraction after four consecutive quarters of growth. Six out of ten industries recorded a decline in production, with agriculture (-13.6% vs 6.2% in Q2), trade (-5.5% vs 2.2%) and manufacturing (-4.2% vs -1%) the hardest hit, amid the twin impact of social unrest during July and tighter lockdown restrictions. The transport and communications industry also shrank (-2.2% vs 6.9%), as road freight transport into and out of KwaZulu-Natal was severely disrupted by the violence, and several domestic airlines recorded flight cancellations following travel restrictions imposed by the Alert Level 4 lockdown. Year-on-year, the economy advanced by 2.9%, slowing from a record 19.1% growth in the prior period and below market forecasts of a 3.5% rise.
2021-12-07
South Africa GDP Grows 1.2% QoQ in Q2
The South African GDP grew 1.2% on quarter in the three months to June of 2021, following a 1% expansion in the previous period and compared with market expectations of a 0.7% growth. Six out of ten industries reported positive growth rates in the second quarter, with transport (6.9% vs -1.1% in Q1), personal services (2.5% vs 0.6%) and trade (2.2% vs 2.6%) industries making the most significant contributions. Also, the agricultural sector rebounded sharply (6.2% vs -0.1%) due to increased production of field crops, horticulture and animal products. Conversely, declines were seen in manufacturing (-0.8% vs 0.5%), construction (-1.4% vs 0.5%), finance, real estate and business services (-0.4% vs 1.3%) and government services (-0.9% vs 0.3%). Year-on-year, the economy advanced at a record 19.3%, beating market forecasts of a 17.5% growth. Statistics South Africa no longer reports an annualized growth rate and now uses 2015 as the base year for the data.
2021-09-07
South Africa GDP Grows More than Expected in Q1
South Africa's economy grew by an annualized 4.6% in the first quarter of 2021, following a downwardly revised 5.8% advance in the October-December period and easily beating market expectations of a 2.5% rise. Eight out of ten industries reported positive growth rates in the first quarter, with mining (18.1%), boosted by the production of platinum group metals, iron ore, gold and chromium; finance (7.4%) and trade (6.2%) making the most significant contributions. Manufacturing also increased 1.6%. Meanwhile, contractions were seen in agriculture (-3.2%), dragged lower by weaker production figures for field crops and animal products; and utilities (-2.6%), due to load shedding and a decline in the supply of water. On the expenditure side, household spending and changes in inventories helped spur growth. Year-on-year, the economy shrank 3.2%, after an upwardly revised 4.2% contraction in the previous period and matching market consensus.
2021-06-08

South Africa GDP Growth Rate
South Africa is the most developed country in Africa and was the largest until 2014, when it was overtaken by Nigeria. The largest sector of the economy is services which accounts for around 73 percent of GDP. Within services, the most important are finance, real estate and business services (21.6 percent); government services (17 percent); wholesale, retail and motor trade, catering and accommodation (15 percent); and transport, storage and communication (9.3 percent). Manufacturing accounts for 13.9 percent; mining and quarrying for around 8.3 percent and agriculture for only 2.6 percent.