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.

South Africa GDP Annual Growth Rate
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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



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




GDP annual growth rate by Country
Country Last
Turkey 7.30 Dec/17
India 7.20 Dec/17
China 6.80 Mar/18
Indonesia 5.19 Dec/17
Spain 3.10 Dec/17
Canada 2.90 Dec/17
Germany 2.90 Dec/17
Netherlands 2.90 Dec/17
South Korea 2.80 Dec/17
Euro Area 2.70 Dec/17
United States 2.60 Dec/17
France 2.50 Dec/17
Australia 2.40 Dec/17
Brazil 2.10 Dec/17
Japan 2.00 Dec/17
Switzerland 1.90 Dec/17
Italy 1.60 Dec/17
Mexico 1.50 Dec/17
United Kingdom 1.40 Dec/17
Russia 0.90 Dec/17


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