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

The South African economy advanced an annualized 3.1 percent on quarter in the last three months of 2017, following an upwardly revised 2.3 percent rise in the previous period and beating market expectations of 1.8 percent. It is the strongest growth rate in six quarters, mainly due to a robust gain in agriculture, a rebound in internal trade and a faster increase in manufacturing. GDP Growth Rate in South Africa averaged 2.87 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 Strongest Since 2016


The South African economy advanced an annualized 3.1 percent on quarter in the last three months of 2017, following an upwardly revised 2.3 percent rise in the previous period and beating market expectations of 1.8 percent. It is the strongest growth rate in six quarters, mainly due to a robust gain in agriculture, a rebound in internal trade and a faster increase in manufacturing.

Agriculture made the largest upward contribution to GDP growth, up by 37.5 percent, following a 41.1 percent jump in Q3, mainly due to higher production of animal products. Other positive contributions came from: trade, catering and accomodation (4.8 percent compared to -0.1 percent), namely wholesale, retail and motor trade; manufacturing (4.3 percent compared to 3.7 percent), namely food and beverages, petroleum, chemical products, rubber and plastic products; basic iron and steel, non-ferrous metal products, metal products and machinery. Also, strong growth was reported for; finance, real estate and business services (2.5 percent compared to 1.9 percent), namely financial intermediation and auxiliary activities; transport, storage and communication (2.8 percent compared to 0.8 percent), namely land freight transportation and communication services; government services (1.4 percent compared to 1.1 percent); and electricity, gas water (3.3 percent compared to -6.1 percent). On the other hand, contraction were seen for mining (-4.4 percent compared to 6.2 percent), largely due to lower production of gold and platinum group metals; and construction (-1.4 percent compared to -1.2 percent), due to both residential and non-residential buildings.

Year-on-year, the GDP grew 1.5 percent, following an upwardly revised 1.3 percent growth in Q3 and beating forecasts of 1.4 percent. It is the highest growth rate since the first quarter of 2015.

Considering full 2017, the GDP advanced 1.3 percent, above 0.6 percent in 2016. A rebound was seen in agriculture, fishing and forestry (17.7 percent compared to -10.2 percent in 2016) and in mining and quarrying (47.6 percent compared to -4.2 percent). In contrast, contraction was observed in trade, catering and accomodation (-0.6 percent compared to 1.7 percent), manufacturing (-0.2 percent compared to 0.9 percent) and construction (-0.3 percent compared to 1.1 percent).


Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
3/6/2018 11:39:30 AM



Calendar GMT Actual Previous Consensus TEForecast
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 2.0% 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 3.1% 2.5%
2018-09-04 09:30 AM GDP Growth Rate QoQ 2%
2018-12-04 09:30 AM GDP Growth Rate QoQ 1.5%


South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate 3.10 2.30 7.60 -6.10 percent [+]
GDP Annual Growth Rate 1.50 1.30 7.10 -2.60 percent [+]
GDP 294.84 317.41 416.42 7.58 USD Billion [+]
GDP Constant Prices 3157028.00 3133267.30 3157028.00 565040.00 ZAR Million [+]
Gross National Product 3129523.00 3085606.00 3129523.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 622124.80 611153.80 652624.20 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 84616.92 78139.35 84616.92 33530.55 ZAR Million [+]
GDP From Construction 108677.89 109065.26 109909.36 14702.00 ZAR Million [+]
GDP From Manufacturing 389516.73 385425.60 391090.40 228221.00 ZAR Million [+]
GDP From Mining 235157.97 237834.29 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 478705.47 477036.27 478705.47 90907.00 ZAR Million [+]
GDP From Services 639135.08 635144.78 639135.08 66256.00 ZAR Million [+]
GDP From Transport 270593.36 268728.82 270593.36 89068.60 ZAR Million [+]
GDP From Utilities 65211.74 64689.81 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 May of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
3.10 2.30 7.60 -6.10 1993 - 2017 percent Quarterly




GDP growth rate by Country
Country Last
United States 2.30 Mar/18
India 1.80 Dec/17
Turkey 1.80 Dec/17
China 1.40 Mar/18
Mexico 1.10 Mar/18
South Korea 1.10 Mar/18
Spain 0.70 Mar/18
Switzerland 0.60 Dec/17
Netherlands 0.50 Mar/18
Australia 0.40 Dec/17
Canada 0.40 Dec/17
Euro Area 0.40 Mar/18
France 0.30 Mar/18
Germany 0.30 Mar/18
Italy 0.30 Mar/18
Brazil 0.10 Dec/17
United Kingdom 0.10 Mar/18
Japan -0.20 Mar/18
Russia -0.38 Dec/17
Indonesia -0.42 Mar/18


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