South Africa GDP Annual Growth Rate  1994-2017 | Data | Chart | Calendar

The South African economy advanced 1 percent year-on-year in the first three months of 2017, higher than 0.7 percent in the previous two quarters and matching market expectations. It is the highest growth rate since the second quarter of 2015 due to a rebound in mining and a 2-year high jump in agriculture. GDP Annual Growth Rate in South Africa averaged 2.87 percent from 1994 until 2017, reaching an all time high of 7.10 percent in the fourth quarter of 2006 and a record low of -2.60 percent in the second quarter of 2009.

South Africa GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus Forecast (i)
2016-12-06 07:30 AM Q3 0.7% 0.7% 0.7% 0.7%
2017-03-07 09:30 AM Q4 0.7% 0.7% 0.6% 0.4%
2017-06-06 09:30 AM Q1 1% 0.7% 1% 0.9%
2017-09-05 09:30 AM Q2 1% 0.8%
2017-12-05 09:30 AM Q3 1%




South Africa Annual GDP Growth At Near 2-Year High In Q1


The South African economy advanced 1 percent year-on-year in the first three months of 2017, higher than 0.7 percent in the previous two quarters and matching market expectations. It is the highest growth rate since the second quarter of 2015 due to a rebound in mining and a 2-year high jump in agriculture.

The mining sector rose 6.9 percent, the first increase in six quarters. Agriculture went up 10.3 percent, the biggest gain since the first quarter of 2015.

In contrast, utilities went down for the eighth period (-1.6 percent from -3.2 percent in the previous quarter); trade declined 1 percent (+1.1 percent in the previous period); manufacturing went down for the second quarter (-0.9 percent from -0.7 percent) and construction fell 0.4 percent (+0.2 percent).

On a quarterly basis, the economy contracted an annualized 0.7 percent, 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, mainly dragged down by trade and manufacturing.

Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
6/6/2017 11:10:06 AM


Recent Releases

South Africa Annual GDP Growth Beats Expectations
The South African economy expanded 0.7 percent year-on-year in the last three months of 2016, the same as in the previous quarter and above market expectations of 0.6 percent. A recovery in agriculture and stronger growth in trade, finance, real estate, business and government services drove the expansion, offsetting contraction in mining, manufacturing and utilities.
Published on 2017-03-07

South African GDP Growth Steady at 0.7% YoY in Q3
The South African economy advanced 0.7 percent year-on-year in the September quarter of 2016, the same from an upwardly revised figure in the second quarter. It was the second straight quarter of growth, as an increase in finance & real estates activities, construction and transport & communication offset a decline in the agriculture, mining and manufacturing.
Published on 2016-12-06

South Africa GDP Expands 0.6% YoY in Q2
The South African economy advanced 0.6 percent year-on-year in the three months to June of 2016, recovering from a downwardly revised 0.1 percent contraction in the previous period and beating market expectations of a 0.5 percent growth. It is the best performance in three quarters, mainly due to a rebound in manufacturing.
Published on 2016-09-06

South African Economy Contracts For the 1st Time Since 2009
The South African GDP shrank 0.20 percent year-on-year in the first quarter of 2016, following downwardly revised 0.5 percent growth in the previous period. It is the first contraction since the fourth quarter of 2009, due to a slump in mining and quarrying and manufacturing sectors.
Published on 2016-06-08



South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.70 -0.30 7.60 -6.10 percent [+]
GDP Annual Growth Rate 1.00 0.70 7.10 -2.60 percent [+]
GDP 314.57 351.31 416.42 7.36 USD Billion [+]
GDP Constant Prices 3078342.70 3084842.60 3085998.60 565040.00 ZAR Million [+]
Gross National Product 3062610.00 3061822.00 3062610.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 613858.30 612273.80 644763.00 73065.00 ZAR Million [+]
GDP per capita 7585.80 7610.70 7610.70 4430.30 USD [+]
GDP per capita PPP 12393.26 12434.05 12434.05 9019.11 USD [+]
GDP From Agriculture 68830.07 65470.06 78180.79 33530.55 ZAR Million [+]
GDP From Construction 108963.88 109316.14 109316.14 14702.00 ZAR Million [+]
GDP From Manufacturing 377900.60 381498.22 391090.40 228221.00 ZAR Million [+]
GDP From Mining 230019.40 223211.87 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 475267.70 475929.38 475929.38 90907.00 ZAR Million [+]
GDP From Services 619022.93 620855.80 620855.80 66256.00 ZAR Million [+]
GDP From Transport 263040.32 264114.25 264114.25 89068.60 ZAR Million [+]
GDP From Utilities 63330.55 64119.86 70556.22 46746.92 ZAR Million [+]


South Africa GDP Annual Growth Rate Notes

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. This page provides - South Africa GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on June of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.00 0.70 7.10 -2.60 1994 - 2017 percent Quarterly



gdp annual growth rate by Country

Last
China 6.90 Mar/17
India 6.10 Mar/17
Indonesia 5.01 Mar/17
Turkey 5.00 Mar/17
Netherlands 3.20 Mar/17
Spain 3.00 Mar/17
South Korea 2.90 Mar/17
Mexico 2.80 Mar/17
Canada 2.30 Mar/17
United Kingdom 2.00 Mar/17
United States 2.00 Mar/17
Euro Area 1.90 Mar/17
Australia 1.70 Mar/17
Germany 1.70 Mar/17
Japan 1.30 Mar/17
Italy 1.20 Mar/17
France 1.10 Mar/17
Switzerland 1.10 Mar/17
Russia 0.50 Mar/17
Brazil -0.40 Mar/17