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

The South African economy advanced 1.1 percent year-on-year in the second quarter of 2017, above 1 percent in the previous period and beating market expectations of 0.4 percent. It is the highest annual growth rate in two years. Considering the first half of 2017, the economy expanded 1.1 percent. GDP Annual Growth Rate in South Africa averaged 2.85 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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South Africa Annual GDP Growth at 2-Year High in Q2


The South African economy advanced 1.1 percent year-on-year in the second quarter of 2017, above 1 percent in the previous period and beating market expectations of 0.4 percent. It is the strongest annual growth rate in two years.

Agriculture, forestry and fishing jumped 28.9 percent (11.4 percent in Q1), recovering from drought. Utilities grew 0.5 percent rebounding from 1.6 percent contraction in Q1. Alos, faster expanison was recorded for construction (0.4 percent compared to 0.2 percent in Q1); finance, real estate and business services (1.1 percent compared to 0.9 percent) and personal services (0.9 percent compared to 0.8 percent). 

On the other hand, the growth slowed in mining and quarrying (2.1 percent compared to 6.8 percent in Q1) and transport and communication (1.2 percent compared to 1.5 percent) and further contraction was recorded in manufacturing (-2 percent compared to -0.9 percent) and trade (-1.2 percent compared to -1 percent).  

On a quarterly basis, the GDP expanded an annualized 2.5 percent, ending two quarters of contraction and beating market expectations of a 2.1 percent rise. It is the highest growth rate in a year with agriculture, forestry and fishing making the largest upward contribution, boosed mainly by higher production of field crops and horticultural products.

Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
9/5/2017 11:03:59 AM


Recent Releases

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.
Published on 2017-06-06

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



Calendar GMT Actual Previous Consensus TEForecast
2017-03-07 09:30 AM GDP Growth Rate YoY 0.7% 0.7% 0.6% 0.4%
2017-06-06 09:30 AM GDP Growth Rate YoY 1% 0.7% 1% 0.9%
2017-09-05 09:30 AM GDP Growth Rate YoY 1.1% 1% 0.4% 0.8%
2017-12-05 09:30 AM GDP Growth Rate YoY 1.1% 1%


South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.50 -0.60 7.60 -6.10 percent [+]
GDP Annual Growth Rate 1.10 1.00 7.10 -2.60 percent [+]
GDP 294.84 317.41 416.42 7.58 USD Billion [+]
GDP Constant Prices 3097941.40 3078342.70 3097941.40 565040.00 ZAR Million [+]
Gross National Product 3078829.00 3062610.00 3078829.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 610160.00 614256.30 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 74142.00 68965.00 78180.79 33530.55 ZAR Million [+]
GDP From Construction 108975.00 109101.88 109316.14 14702.00 ZAR Million [+]
GDP From Manufacturing 379277.00 377900.60 391090.40 228221.00 ZAR Million [+]
GDP From Mining 232402.00 230181.40 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 474286.00 475052.70 475929.38 90907.00 ZAR Million [+]
GDP From Services 622919.00 619022.93 622919.00 66256.00 ZAR Million [+]
GDP From Transport 264492.00 263040.32 264492.00 89068.60 ZAR Million [+]
GDP From Utilities 64676.00 63330.55 70556.22 46746.92 ZAR Million [+]


South Africa GDP Annual 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. 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 September of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.10 1.00 7.10 -2.60 1994 - 2017 percent Quarterly




gdp annual growth rate by Country

Last
China 6.90 Jun/17
India 5.70 Jun/17
Turkey 5.10 Jun/17
Indonesia 5.01 Jun/17
Canada 3.70 Jun/17
Netherlands 3.30 Jun/17
Spain 3.10 Jun/17
South Korea 2.70 Jun/17
Russia 2.50 Jun/17
Euro Area 2.30 Jun/17
United States 2.20 Jun/17
Germany 2.10 Jun/17
Australia 1.80 Jun/17
France 1.80 Jun/17
Mexico 1.80 Jun/17
United Kingdom 1.70 Jun/17
Italy 1.50 Jun/17
Japan 1.40 Jun/17
Brazil 0.30 Jun/17
Switzerland 0.30 Jun/17