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

The South African economy advanced 1.5 percent year-on-year in the fourth quarter of 2017, above an upwardly revised 1.3 percent growth in the previous period and beating market expectations of 1.4 percent. It is the strongest expansion since the first quarter of 2015 supported by a rebound in manufacturing and utilities and strong growth in services. GDP Annual Growth Rate in South Africa averaged 2.84 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.

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South Africa GDP Grows 1.5% YoY, Strongest Since 2015

The South African economy advanced 1.5 percent year-on-year in the fourth quarter of 2017, above an upwardly revised 1.3 percent growth in the previous period and beating market expectations of 1.4 percent. It is the strongest expansion since the first quarter of 2015 supported by a rebound in manufacturing and utilities and strong growth in services.

Higher growth rates were seen for mining (4.9 percent compared to 3.5 percent in Q3); transport, storage and communication (1.6 percent compared to 1.1 percent) and finance, real estate and business services (2.1 percent compared to 1.9 percent). Additionally, output rebounded for manufacturing (2.5 percent compared to -0.4 percent); elecricity, gas and water (1.9 percent compared to -0.6 percent) and trade, catering and accommodation (0.1 percent compared to -0.8 percent).

On the other hand, slower growth rates were seen for agriculture (1.1 percent compared to 27.3 percent); personal services (0.8 percent compared to 1.6 percent) and government services (0.1 percent compared to 0.2 percent). Also, construction declined faster (-1.2 percent compared to -0.1 percent).

On a seasonally adjusted quarterly basis, the economy expanded an annualized 3.1 percent, following an upwardly revised 2.3 percent growth in the prior quarter and beating market consensus of 1.8 percent. The main contributors to growth were agriculture, internal trade and manufacturing.

Considering 2017 as a whole, the economy advanced 1.3 percent after a 0.6 percent growth in 2016.

Statistics South Africa | Stefanie Moya | stefanie.moya@tradingeconomics.com
3/6/2018 11:45:30 AM

Recent Releases

South Africa GDP Annual Growth Rate Down to 0.8% in Q3
The South African economy advanced 0.8 percent year-on-year in the third quarter of 2017, below an upwardly revised 1.3 percent expansion in the previous period which was the highest growth rate in two years. Still, figures matched market expectations. Mining rose faster while agriculture eased and manufacturing shrank for the fourth quarter.
Published on 2017-12-05

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.
Published on 2017-09-05

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

Calendar	GMT		Actual	Previous	Consensus	TEForecast
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	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		1.5%		1.7%
2018-09-04	09:30 AM	GDP Growth Rate YoY				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	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 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 April of 2018.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	1.50	1.30	7.10	-2.60	1994 - 2017	percent	Quarterly

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GDP annual growth rate by Country

Country	Last		Previous	Highest	Lowest
Turkey	7.30	Dec/17	11.3	11.7	-14.4	%	Quarterly
India	7.20	Dec/17	6.5	11.4	-5.2	%	Quarterly
China	6.80	Mar/18	6.8	15.4	3.8	%	Quarterly
Indonesia	5.19	Dec/17	5.06	7.16	1.56	%	Quarterly
Spain	3.10	Dec/17	3.1	5.6	-4.3	%	Quarterly
Canada	2.90	Dec/17	3	8.8	-4.1	%	Quarterly
Germany	2.90	Dec/17	2.7	7.2	-6.8	%	Quarterly
Netherlands	2.90	Dec/17	3	6.1	-4.9	%	Quarterly
South Korea	2.80	Dec/17	3.8	20.8	-7.3	%	Quarterly
Euro Area	2.70	Dec/17	2.7	5	-5.5	%	Quarterly
United States	2.60	Dec/17	2.3	13.4	-4.1	%	Quarterly
France	2.50	Dec/17	2.3	12.5	-3.8	%	Quarterly
Australia	2.40	Dec/17	2.9	9	-3.5	%	Quarterly
Brazil	2.10	Dec/17	1.4	10.1	-5.6	%	Quarterly
Japan	2.00	Dec/17	1.9	9.4	-8.8	%	Quarterly
Switzerland	1.90	Dec/17	1.2	5.8	-3.4	%	Quarterly
Italy	1.60	Dec/17	1.7	10.3	-7.2	%	Quarterly
Mexico	1.50	Dec/17	1.6	9	-9.1	%	Quarterly
United Kingdom	1.40	Dec/17	1.8	9.7	-5.9	%	Quarterly
Russia	0.90	Dec/17	2.2	12.1	-11.2	%	Quarterly