South Africa GDP Growth Rate  1993-2018 | Data | Chart | Calendar

The South African economy shrank a seasonally adjusted annualized 2.2 percent on quarter in the first three months of 2018, reversing from a 3.1 percent growth in the previous period and market expectations of a 0.5 percent decline. It is the biggest contraction since the first quarter of 2009 as production declined for: field crops, horticultural products, platinum group metals, iron ore and steel. GDP Growth Rate in South Africa averaged 2.82 percent from 1993 until 2018, 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 Contracts the Most since 2009


The South African economy shrank a seasonally adjusted annualized 2.2 percent on quarter in the first three months of 2018, reversing from a 3.1 percent growth in the previous period which was the highest in 1-1/2 years. It compares with market expectations of a 0.5 percent decline. It is the biggest contraction since the first quarter of 2009 as production declined mostly for field crops, horticultural products, platinum group metals, iron ore and steel.

The biggest downward contributions came from mining, manufacturing and agriculture.

The mining sector went down 9.9 percent, extending the 4.4 percent drop in Q4 and mainly due to lower production of gold and ‘other’ metal ores, mainly platinum group metals and iron ore.

Manufacturing decreased 6.4 percent, the biggest drop since Q2 2015 and reversing from a 4.3 percent gain in Q4. Six of the ten manufacturing divisions shrank, with the largest downward contributions coming from basic iron and steel, non-ferrous metal products, metal products and machinery, petroleum, chemical products, rubber and plastic products.

The agriculture, forestry and fishing industry slumped 24.2 percent, reversing from a 37.5 percent growth in Q4, mainly because of a drop in production of field crops and horticultural products.

The trade, catering and accommodation sector declined 3.1 percent after a 4.8 percent jump in Q4 and construction decreased by 1.9 percent after a 1.4 percent decrease in Q4, marking the fifth straight quarter of falls. Decreases were reported for residential buildings and construction works.

The electricity, gas and water industry contracted by 0.5 percent after a 3.3 percent growth in Q4 and largely due to lower electricity production.

On the other hand, main positive contributions came from finance, real estate and business services (activities up 1.1 percent compared to 2.5 percent in Q4) and government (1.8 percent compared to 1.4 percent). 

Year-on-year, the economy grew 0.8 percent, easing from a 1.5 percent expansion in the previous period and well below forecasts of a 1.9 percent rise. It is the lowest annual growth rate since the second quarter of 2016.


Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
6/5/2018 10:09:46 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-12-05 09:30 AM GDP Growth Rate QoQ 2.0% 2.8% 1.5% 1.1%
2018-03-06 09:30 AM GDP Growth Rate QoQ 3.1% 2.3% 1.8% 1.5%
2018-06-05 09:30 AM GDP Growth Rate QoQ -2.2% 3.1% -0.5% 1.0%
2018-09-04 09:30 AM GDP Growth Rate QoQ -2.2% 1%
2018-12-04 09:30 AM GDP Growth Rate QoQ 1.5%


South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate -2.20 3.10 7.60 -6.10 percent [+]
GDP Annual Growth Rate 0.80 1.50 7.10 -2.60 percent [+]
GDP 349.42 295.76 416.88 7.58 USD Billion [+]
GDP Constant Prices 3137110.10 3157028.00 3157028.00 565040.00 ZAR Million [+]
Gross National Product 3076397.00 3129523.00 3129523.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 617115.60 622124.80 652624.20 73065.00 ZAR Million [+]
GDP per capita 7524.51 7519.50 7582.60 4527.30 USD [+]
GDP per capita PPP 12294.88 12286.70 12389.70 8862.00 USD [+]
GDP From Agriculture 78966.90 84616.92 84616.92 33530.55 ZAR Million [+]
GDP From Construction 108161.67 108677.89 109909.36 14702.00 ZAR Million [+]
GDP From Manufacturing 383150.11 389516.73 391090.40 228221.00 ZAR Million [+]
GDP From Mining 229121.66 235157.97 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 480861.91 478705.47 480861.91 90907.00 ZAR Million [+]
GDP From Services 640882.86 639135.08 640882.86 66256.00 ZAR Million [+]
GDP From Transport 271183.77 270593.36 271183.77 89068.60 ZAR Million [+]
GDP From Utilities 65132.85 65211.74 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 July of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-2.20 3.10 7.60 -6.10 1993 - 2018 percent Quarterly




GDP growth rate by Country
Country Last
Turkey 2.00 Mar/18
United States 2.00 Mar/18
India 1.90 Mar/18
China 1.80 Jun/18
Mexico 1.10 Mar/18
Australia 1.00 Mar/18
South Korea 1.00 Mar/18
Russia 0.85 Mar/18
Spain 0.70 Mar/18
Netherlands 0.60 Mar/18
Switzerland 0.60 Mar/18
Brazil 0.40 Mar/18
Euro Area 0.40 Mar/18
Canada 0.30 Mar/18
Germany 0.30 Mar/18
Italy 0.30 Mar/18
France 0.20 Mar/18
United Kingdom 0.20 Mar/18
Japan -0.20 Mar/18
Indonesia -0.42 Mar/18


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