South Africa GDP Annual Growth Rate  1994-2018 | Data | Chart | Calendar

The South African economy grew 0.8 percent year-on-year in the first quarter of 2018, easing from a 1.5 percent expansion in the previous period and below market expectations of 1.9 percent. It was the weakest growth rate since the second quarter of 2016, mainly due to a contraction in agriculture, forestry and fishing activities and mining. GDP Annual Growth Rate in South Africa averaged 2.82 percent from 1994 until 2018, 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
width
height
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.




South Africa GDP Growth Slows to 0.8% YoY in Q1


The South African economy grew 0.8 percent year-on-year in the first quarter of 2018, easing from a 1.5 percent expansion in the previous period and below market expectations of 1.9 percent. It was the weakest growth rate since the second quarter of 2016, mainly due to a contraction in agriculture, forestry and fishing activities and mining.

Slower growth rates were seen for manufacturing (0.6 percent compared to 2.5 percent in Q4 2017) and elecricity, gas and water (1.2 percent compared to 1.9 percent). Additionally, output dropped for agriculture (-8.5 percent compared to 1.1 percent) and mining (-0.7 percent compared to 4.9 percent).

On the other hand, higher growth rates were recorded for transport, storage and communication (1.8 percent compared to 1.6 percent); personal services (1.3 percent compared to 0.8 percent);  government services (0.5 percent compared to 0.1 percent) and trade, catering and accommodation (0.3 percent compared to 0.1 percent). Also, finance, real estate and business services continued to rise (2.1 percent, the same pace as in Q4 2017) and construction fell at a softer pace (-0.7 percent compared to -1.2 percent).

On a seasonally adjusted quarterly basis, the economy shrank 2.2 percent, reversing from a 3.1 percent growth in the previous period and missing market consensus of a 0.5 percent contraction. The main contributors to the drop were field crops, horticultural products, platinum group metals and iron ore. 


Statistics South Africa | Stefanie Moya | stefanie.moya@tradingeconomics.com
6/5/2018 9:59:22 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-12-05 09:30 AM GDP Growth Rate YoY 0.8% 1.3% 0.8% 1%
2018-03-06 09:30 AM GDP Growth Rate YoY 1.5% 1.3% 1.4% 1.0%
2018-06-05 09:30 AM GDP Growth Rate YoY 0.8% 1.5% 1.9% 1.3%
2018-09-04 09:30 AM GDP Growth Rate YoY 0.8% 1.3%
2018-12-04 09:30 AM GDP Growth Rate YoY 1.3%


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 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 July of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.80 1.50 7.10 -2.60 1994 - 2018 percent Quarterly




GDP annual growth rate by Country
Country Last
India 7.70 Mar/18
Turkey 7.40 Mar/18
China 6.70 Jun/18
Indonesia 5.06 Mar/18
Australia 3.10 Mar/18
Spain 3.00 Mar/18
Netherlands 2.80 Mar/18
South Korea 2.80 Mar/18
United States 2.80 Mar/18
Euro Area 2.50 Mar/18
Canada 2.30 Mar/18
Germany 2.30 Mar/18
France 2.20 Mar/18
Switzerland 2.20 Mar/18
Italy 1.40 Mar/18
Mexico 1.30 Mar/18
Russia 1.30 Mar/18
Brazil 1.20 Mar/18
United Kingdom 1.20 Mar/18
Japan 1.10 Mar/18


Related

Latest