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

The South African economy expanded an annualized 2.0 percent on quarter in the three months to September of 2017, easing from an upwardly revised 2.8 percent expansion in the previous quarter but beating market expectations of a 1.5 percent rise. Agriculture, mining and manufacturing were the main drivers of the growth, while there was a contraction in general government services resulting from low employment numbers in the public sector. GDP Growth Rate in South Africa averaged 2.83 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 Slows to 2.0% in Q3


The South African economy expanded an annualized 2.0 percent on quarter in the three months to September of 2017, easing from a 2.8 percent expansion in the previous quarter and beating market expectations of a 1.5 percent rise. The largest upward contribution in the GDP was the agriculture, forestry and fishing industry, mainly due to higher production of field crops and horticultural products.

Agriculture, forestry and fishing industry jumped 44.2 percent, higher than a 38.7 percent increase in Q2. Additional upward contributions came from mining and quarrying (6.6 percent compared to 8.2 percent in Q2), namely gold and platinum group metals; manufacturing (4.3 percent compared to 1.5 percent in Q2), mainly petroleum, chemical products, rubber and plastic, iron and steel, non-ferrous metal products, metal and machinery, motor vehicles, parts and accessories and other transport equipment; finance, real estate and business services (1.2 percent compared to 2.5 percent in Q2), due to financial intermediation, insurance and auxiliary activities; transport, storage and communication (0.6 percent compared to 2.2 percent in Q2); and personal services (0.9 percent compared to 1.3 percent).

In contrast, electricity, gas and water decreased by 5.5 percent (8.8 percent rise in Q2); trade, catering and accommodation (-0.4 percent compared to 0.6 percent in Q2); general government services (-0.7 percent compared to -1.1 percent), partly due to declining levels of employment and construction (-1.1 percent compared to -0.3 percent), namely residential and non-residential buildings and construction works. 

Year-on-year, the economy advanced 0.8 percent, below an upwardly revised 1.3 percent in the previous quarter and in line with market expectations.


Statistics South Africa | Stefanie Moya | stefanie.moya@tradingeconomics.com
12/5/2017 10:41:32 AM



Calendar GMT Actual Previous Consensus TEForecast
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 2.0% 2.8% 1.5% 1.1%
2018-03-06 09:30 AM GDP Growth Rate QoQ 2.0% 1.3%
2018-06-05 09:30 AM GDP Growth Rate QoQ 2.50%
2018-09-04 09:30 AM GDP Growth Rate QoQ 2.70%


South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.00 2.80 7.60 -6.10 percent [+]
GDP Annual Growth Rate 0.80 1.30 7.10 -2.60 percent [+]
GDP 294.84 317.41 416.42 7.58 USD Billion [+]
GDP Constant Prices 3117014.00 3100624.60 3117014.00 565040.00 ZAR Million [+]
Gross National Product 3085606.00 3078829.00 3085606.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 617647.10 610160.00 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 82009.97 74842.20 82009.97 33530.55 ZAR Million [+]
GDP From Construction 108735.26 109025.26 109316.14 14702.00 ZAR Million [+]
GDP From Manufacturing 383325.60 379276.56 391090.40 228221.00 ZAR Million [+]
GDP From Mining 238564.29 234777.19 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 472908.40 473797.47 475929.38 90907.00 ZAR Million [+]
GDP From Services 624844.78 622919.00 624844.78 66256.00 ZAR Million [+]
GDP From Transport 264878.82 264492.41 264878.82 89068.60 ZAR Million [+]
GDP From Utilities 63774.81 64675.99 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 February of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
2.00 2.80 7.60 -6.10 1993 - 2017 percent Quarterly




GDP growth rate by Country
Country Last
United States 2.60 Dec/17
China 1.60 Dec/17
India 1.60 Sep/17
Turkey 1.20 Sep/17
Russia 1.08 Jun/17
Mexico 1.00 Dec/17
Netherlands 0.80 Dec/17
Spain 0.70 Dec/17
Australia 0.60 Sep/17
Euro Area 0.60 Dec/17
France 0.60 Dec/17
Germany 0.60 Dec/17
Switzerland 0.60 Sep/17
United Kingdom 0.50 Dec/17
Canada 0.40 Sep/17
Italy 0.30 Dec/17
Brazil 0.10 Sep/17
Japan 0.10 Dec/17
South Korea -0.20 Dec/17
Indonesia -1.70 Dec/17


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