The South African economy expanded 0.9 percent year-on-year in the second quarter of 2019, after showing no growth in the previous period and beating market expectations of 0.8 percent. Service activities were the main drivers of GDP growth, while manufacturing expansion eased and output continued to contract for agriculture, mining, utilities and construction. GDP Annual Growth Rate in South Africa averaged 2.71 percent from 1994 until 2019, 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.

GDP Annual Growth Rate in South Africa is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in South Africa to stand at 1.00 in 12 months time. In the long-term, the South Africa GDP Annual Growth Rate is projected to trend around 1.80 percent in 2020, according to our econometric models.

South Africa GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-04 09:30 AM GDP Growth Rate YoY Q3 1.1% 0.4% 0.5% 0.6%
2019-03-05 09:30 AM GDP Growth Rate YoY Q4 1.1% 1.3% 0.6% 0.7%
2019-06-04 09:30 AM GDP Growth Rate YoY Q1 0% 1.1% 0.7% 0.5%
2019-09-03 09:30 AM GDP Growth Rate YoY Q2 0.9% 0% 0.8% 0.6%
2019-12-03 09:30 AM GDP Growth Rate YoY Q3 0.9% 1.1%



South Africa GDP Grows 0.9% YoY in Q2

The South African economy expanded 0.9 percent year-on-year in the second quarter of 2019, after showing no growth in the previous period and beating market expectations of 0.8 percent. Service activities were the main drivers of GDP growth, while manufacturing expansion eased and output continued to contract for agriculture, mining, utilities and construction.

Within services, output growth was recorded for: trade, catering and accomodation (0.6 percent vs -0.6 percent in Q1); transport, storage and communication (2.5 percent vs 1.1 percent); finance, real estate and business services (3.1 percent vs 2.4 percent); general government services (1.8 percent vs 1.0 percent); and personal services (0.8 percent vs 1.3 percent).

Meanwhile, manufacturing expanded at a softer 0.5 percent, compared to 0.6 percent in the previous period. Output contracted for: agriculture (-6.7 percent vs -12.7 percent); mining (-2.1 percent vs -4.6 percent); electricity, gas and water (-0.5 percent vs -1.4 percent); and construction (-2.5 percent vs -2.3 percent).

On a seasonally adjusted annualized basis, the economy grew 3.1 percent in the second quarter, following a revised 3.1 percent contraction in the first three months of the year and beating market consensus of 2.4 percent. It was the highest growth rate since the fourth quarter of 2017, boosted by a rebound in mining and manufacturing output.


Statistics South Africa | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/3/2019 10:28:34 AM


News

South Africa GDP Annual Growth Stalls in Q1
The South African economy showed no growth in the first quarter of 2019, after expanding 1.1 percent in the prior period and missing market expectations of a 0.7 percent growth. Slower rises were seen in manufacturing, transport & storage, finance and public administration. In addition, agriculture, mining, construction, utilities and trade posted contractions.
Published on 2019-06-04

South Africa GDP Annual Growth Slows Less than Expected
The South African economy expanded 1.1 percent year-on-year in the fourth quarter of 2018, after an upwardly revised 1.3 percent growth in the prior period while markets had expected it to advance 0.6 percent. Slower growth was seen in internal trade, utilities and public administration while the agricultural sector shrank.
Published on 2019-03-05

South Africa GDP Annual Growth Beats Estimates in Q3
The South African economy advanced 1.1 percent year-on-year in the third quarter of 2018, after expanding 0.4 percent in the prior period and above market consensus of a 0.5 percent growth. It was the strongest growth rate since the last quarter of 2017, mostly boosted by a rebound in agriculture and transport, storage and communication sectors.
Published on 2018-12-05

South Africa GDP Annual Growth Slows to 0.4% in Q2
The South African economy expanded 0.4 percent year-on-year in the second quarter of 2018, slowing from a 0.8 percent growth in the previous period and below market expectations of a 1 percent expansion. It was the weakest growth rate since the first quarter of 2016 when the economy contracted 0.3 percent, as production declined mainly for in agriculture, forestry and fishing activities.
Published on 2018-09-04



South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate 3.10 -3.10 7.60 -6.10 percent [+]
GDP Annual Growth Rate 0.90 0.00 7.10 -2.60 percent [+]
GDP 366.30 348.87 416.42 7.58 USD Billion [+]
GDP Constant Prices 3156566.50 3133297.20 3160551.30 565040.00 ZAR Million [+]
Gross National Product 3141802.00 3109703.00 3141802.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 607257.10 598360.20 644549.00 73065.00 ZAR Million [+]
GDP per capita 7432.90 7487.90 7582.70 4624.10 USD [+]
GDP per capita PPP 12143.47 12233.37 12388.26 9014.28 USD [+]
GDP From Agriculture 69690.51 70443.35 89120.92 33530.55 ZAR Million [+]
GDP From Construction 106423.38 106850.38 110107.16 14702.00 ZAR Million [+]
GDP From Manufacturing 386951.40 384990.99 393954.72 228221.00 ZAR Million [+]
GDP From Mining 228480.61 220907.55 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 486277.80 482227.01 486277.80 90907.00 ZAR Million [+]
GDP From Services 654270.43 647668.90 654270.43 66256.00 ZAR Million [+]
GDP From Transport 275280.76 275505.11 278622.84 89068.60 ZAR Million [+]
GDP From Utilities 65317.74 64798.02 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 October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.90 0.00 7.10 -2.60 1994 - 2019 percent Quarterly




Country Last Previous
China 6.00 Sep/19
Indonesia 5.05 Jun/19
India 5.00 Jun/19
United States 2.30 Jun/19
South Korea 2.00 Jun/19
Spain 2.00 Jun/19
Netherlands 1.80 Jun/19
Canada 1.60 Jun/19
Australia 1.40 Jun/19
France 1.40 Jun/19
United Kingdom 1.30 Jun/19
Euro Area 1.20 Jun/19
Brazil 1.00 Jun/19
Japan 1.00 Jun/19
Russia 0.90 Jun/19
South Africa 0.90 Jun/19
Argentina 0.60 Jun/19
Saudi Arabia 0.50 Jun/19
Germany 0.40 Jun/19
Switzerland 0.20 Jun/19
Singapore 0.10 Sep/19
Italy -0.10 Jun/19
Mexico -0.80 Jun/19
Turkey -1.50 Jun/19


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