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.

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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

Recent Releases

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.
Published on 2018-03-06

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

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

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GDP annual growth rate by Country

Country	Last		Previous	Highest	Lowest
India	7.70	Mar/18	7	11.4	-5.2	%	Quarterly
Turkey	7.40	Mar/18	7.3	11.7	-14.4	%	Quarterly
China	6.70	Jun/18	6.8	15.4	3.8	%	Quarterly
Indonesia	5.06	Mar/18	5.19	7.16	1.56	%	Quarterly
Australia	3.10	Mar/18	2.4	9	-3.4	%	Quarterly
Spain	3.00	Mar/18	3.1	5.6	-4.3	%	Quarterly
Netherlands	2.80	Mar/18	2.7	6.1	-4.9	%	Quarterly
South Korea	2.80	Mar/18	2.8	19.6	-7.4	%	Quarterly
United States	2.80	Mar/18	2.6	13.4	-4.1	%	Quarterly
Euro Area	2.50	Mar/18	2.8	5	-5.5	%	Quarterly
Canada	2.30	Mar/18	3	9.3	-4.1	%	Quarterly
Germany	2.30	Mar/18	2.9	7.2	-6.8	%	Quarterly
France	2.20	Mar/18	2.8	12.5	-3.8	%	Quarterly
Switzerland	2.20	Mar/18	1.9	5.8	-3.4	%	Quarterly
Italy	1.40	Mar/18	1.6	10.3	-7.2	%	Quarterly
Mexico	1.30	Mar/18	1.5	9	-9.1	%	Quarterly
Russia	1.30	Mar/18	0.9	12.1	-11.2	%	Quarterly
Brazil	1.20	Mar/18	2.1	10.1	-5.6	%	Quarterly
United Kingdom	1.20	Mar/18	1.3	9.7	-6.1	%	Quarterly
Japan	1.10	Mar/18	1.9	9.4	-8.8	%	Quarterly