South Africa GDP Growth Rate  1993-2016 | Data | Chart | Calendar

The South African economy advanced an annualized 3.3 percent on quarter in the three months to June of 2016, recovering from a 1.2 percent contraction in the previous period and beating market expectations of a 2.3 percent increase. It is the highest growth rate since the last three months of 2014, mainly boosted by manufacturing, mining and real estate activities. GDP Growth Rate in South Africa averaged 2.93 percent from 1993 until 2016, reaching an all time high of 7.60 percent in the fourth quarter of 1994 and a record low of -6.10 percent in the first quarter of 2009. GDP Growth Rate in South Africa is reported by the Statistics South Africa.

South Africa GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
3.30 -1.20 7.60 -6.10 1993 - 2016 percent Quarterly
South Africa is the second largest economy in Africa. The country is rich in natural resources and is a leading producer of platinum, gold, chromium and iron. From 2002 to 2008, South Africa grew at an average of 4.5 percent year-on-year, its fastest expansion since the establishment of democracy in 1994. However, in recent years, successive governments have failed to address structural problems such as the widening gap between rich and poor, low-skilled labour force, high unemployment rate, deteriorating infrastructure, high corruption and crime rates. As a result, since the recession in 2008, South Africa growth has been sluggish and below African average. This page provides - South Africa GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on September of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-03-01 09:30 AM Q4 0.6% 0.7% 0.8% 1%
2016-06-08 09:30 AM Q1 -1.2% 0.4% -0.1% 0.1%
2016-09-06 09:30 AM Q2 3.3% -1.2% 2.3% -0.2%
2016-12-06 09:30 AM Q3 3.3% 0.3%

South Africa GDP Growth at 1-1/2-Year High in Q2


The South African economy advanced an annualized 3.3 percent on quarter in the three months to June of 2016, recovering from a 1.2 percent contraction in the previous period and beating market expectations of a 2.3 percent increase. It is the highest growth rate since the last three months of 2014, mainly boosted by manufacturing, mining and real estate activities.

The largest contributor to GDP growth was manufacturing, jumping 8.1 percent and contributing 1 percentage point. It is the highest growth rate in three years due to production of petroleum products, chemicals, rubber, motor vehicles, parts and accessories and other transport equipment. 

Mining and quarrying recovered in the second quarter, jumping 11.8 percent and contributing 0.8 of a percentage point. It follows an 18.1 percent contraction in the first quarter, mainly boosted by platinum output. 

Growth in finance, real estate and business services accelerated for the second straight period, reaching 2.9 percent, the highest in five quarters. Trade, catering and accommodation grew 1.4 percent (1.3 percent in Q1), mainly wholesale and motor trade. Transport, storage and communication increased by 2.9 percent (-2.7 percent), largely driven by activity in land freight transportation and communications.

In contrast, the agricultural sector shrank 0.8 percent, following a 6.5 percent decline in the previous period. It marks the sixth consecutive quarter of contraction due to severe droughts. Production declined mainly for field crops and horticulture products. In addition, the output for electricity, water and gas fell 1.8 percent, following a 2.8 percent slump in the previous quarter. 

Year-on-year, the economy expanded 0.6 percent, recovering from a 0.1 percent contraction in the first quarter. 

Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
9/6/2016 11:20:28 AM

South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate 3.30 -1.20 7.60 -6.10 percent [+]
GDP Annual Growth Rate 0.60 -0.10 7.10 -2.60 percent [+]
GDP 312.80 349.90 416.60 7.36 USD Billion [+]
GDP Constant Prices 3089550.00 3063541.00 3089550.00 565040.00 ZAR Million [+]
Gross National Product 2988890.00 2970942.00 2990742.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 614389.00 621745.00 642798.00 73065.00 ZAR Million [+]
GDP per capita 7575.24 7603.54 7609.54 4430.38 USD [+]
GDP per capita PPP 12389.96 12436.24 12446.06 9546.25 USD [+]
GDP From Agriculture 66682.05 66821.00 77828.85 33530.55 ZAR Million [+]
GDP From Construction 109380.34 109365.71 109380.34 14702.00 ZAR Million [+]
GDP From Manufacturing 386355.28 378896.30 391090.40 228221.00 ZAR Million [+]
GDP From Mining 225875.02 219657.70 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 469052.00 467692.00 469052.00 90907.00 ZAR Million [+]
GDP From Services 618824.75 614343.95 618824.75 66256.00 ZAR Million [+]
GDP From Transport 261028.96 259164.29 261136.64 89068.60 ZAR Million [+]
GDP From Utilities 65207.89 65500.05 70556.22 46746.92 ZAR Million [+]




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