The South African GDP grew 1.2% on quarter in the three months to June of 2021, following a 1% expansion in the previous period and compared with market expectations of a 0.7% growth. Six out of ten industries reported positive growth rates in the second quarter, with transport (6.9% vs -1.1% in Q1), personal services (2.5% vs 0.6%) and trade (2.2% vs 2.6%) industries making the most significant contributions. Also, the agricultural sector rebounded sharply (6.2% vs -0.1%) due to increased production of field crops, horticulture and animal products. Conversely, declines were seen in manufacturing (-0.8% vs 0.5%), construction (-1.4% vs 0.5%), finance, real estate and business services (-0.4% vs 1.3%) and government services (-0.9% vs 0.3%). Year-on-year, the economy advanced at a record 19.3%, beating market forecasts of a 17.5% growth. Statistics South Africa no longer reports an annualized growth rate and now uses 2015 as the base year for the data. source: Statistics South Africa

GDP Growth Rate in South Africa averaged 0.64 percent from 1993 until 2021, reaching an all time high of 13.90 percent in the third quarter of 2020 and a record low of -17.40 percent in the second quarter of 2020. This page provides - South Africa GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.

GDP Growth Rate in South Africa is expected to be -8.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa GDP Growth Rate is projected to trend around 1.00 percent in 2022 and 0.60 percent in 2023, according to our econometric models.

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South Africa GDP Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-06-08 09:30 AM Q1 4.6% 5.8% 2.5% 2.7%
2021-09-07 09:30 AM Q2 1.2% 1% 0.7% 2.5%
2021-12-07 09:30 AM Q3 1.2% -8%


News Stream
South Africa GDP Grows 1.2% QoQ in Q2
The South African GDP grew 1.2% on quarter in the three months to June of 2021, following a 1% expansion in the previous period and compared with market expectations of a 0.7% growth. Six out of ten industries reported positive growth rates in the second quarter, with transport (6.9% vs -1.1% in Q1), personal services (2.5% vs 0.6%) and trade (2.2% vs 2.6%) industries making the most significant contributions. Also, the agricultural sector rebounded sharply (6.2% vs -0.1%) due to increased production of field crops, horticulture and animal products. Conversely, declines were seen in manufacturing (-0.8% vs 0.5%), construction (-1.4% vs 0.5%), finance, real estate and business services (-0.4% vs 1.3%) and government services (-0.9% vs 0.3%). Year-on-year, the economy advanced at a record 19.3%, beating market forecasts of a 17.5% growth. Statistics South Africa no longer reports an annualized growth rate and now uses 2015 as the base year for the data.
2021-09-07
South Africa GDP Grows More than Expected in Q1
South Africa's economy grew by an annualized 4.6% in the first quarter of 2021, following a downwardly revised 5.8% advance in the October-December period and easily beating market expectations of a 2.5% rise. Eight out of ten industries reported positive growth rates in the first quarter, with mining (18.1%), boosted by the production of platinum group metals, iron ore, gold and chromium; finance (7.4%) and trade (6.2%) making the most significant contributions. Manufacturing also increased 1.6%. Meanwhile, contractions were seen in agriculture (-3.2%), dragged lower by weaker production figures for field crops and animal products; and utilities (-2.6%), due to load shedding and a decline in the supply of water. On the expenditure side, household spending and changes in inventories helped spur growth. Year-on-year, the economy shrank 3.2%, after an upwardly revised 4.2% contraction in the previous period and matching market consensus.
2021-06-08
South Africa GDP Grows More than Expected in Q4
South Africa's economy grew by an annualized 6.3% in the fourth quarter of 2020, following an upwardly revised 67.3% advance in the July-September period and easily beating market expectations of a 5% rise, largely due to the further easing of lockdown restrictions. Eight out of ten industries reported positive growth rates in the fourth quarter, primarily manufacturing (21.1%), trade (9.8%), transport (6.7%), construction (11.2%) and agriculture (5.9%). Expenditure on real gross domestic product increased at an annualised rate of 6,5%, driven by household consumption, exports and fixed investment. Year-on-year, the economy shrank 4.1%, after an upwardly revised 6.2% contraction in the previous period and compared with market expectations of a 4.6% slump. Considering the full year of 2020, the GDP shrank 7%, the most since 1946, as the devastating impact of COVID-19 in the second quarter when lockdown restrictions were at their most stringent weighed heavily on the economy.
2021-03-09

South Africa Last Unit Reference Previous Highest Lowest
GDP Growth Rate 1.20 percent Jun/21 1.00 13.90 -17.40
GDP Annual Growth Rate 19.30 percent Jun/21 -2.60 19.30 -16.80
GDP Constant Prices 4504725.90 ZAR Million Jun/21 4451229.60 4589661.10 565040.00
GDP From Utilities 104042.76 ZAR Million Jun/21 103345.22 125002.07 82819.94
GDP From Transport 342494.83 ZAR Million Jun/21 320452.44 389226.92 122082.62
GDP From Services 1051139.44 ZAR Million Jun/21 1055679.61 1061557.65 66256.00
GDP From Public Administration 367943.96 ZAR Million Jun/21 371170.71 371170.71 90907.00
GDP From Mining 223192.20 ZAR Million Jun/21 218964.10 240357.55 146083.34
GDP From Manufacturing 532177.64 ZAR Million Jun/21 536667.63 572743.36 334105.25
GDP From Construction 111106.36 ZAR Million Jun/21 112631.46 157768.95 14702.00
GDP From Agriculture 129761.84 ZAR Million Jun/21 122242.60 129761.84 43536.51


South Africa GDP 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.