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

The South African economy expanded an annualized 0.7 percent on quarter in the three months to September of 2015, recovering from a 1.3 percent contraction in the previous period and boosted by a rebound in manufacturing and wholesale and retail trade. However, figures came below market expectations of a 1.1 percent growth and lower than a 2.1 percent expansion seen a year earlier as the drop in commodity prices keeps dragging the mining sector down. GDP Growth Rate in South Africa averaged 2.99 percent from 1993 until 2015, 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
0.70 -1.30 7.60 -6.10 1993 - 2015 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 February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-05-26 10:30 AM Q1 1.3% 4.1% 1.7% 1.4%
2015-08-25 10:30 AM Q2 -1.3% 1.3% 0.5% 0.8%
2015-11-24 09:30 AM Q3 0.7% -1.3% 1.1% 0.3%
2016-02-24 09:30 AM Q4 0.7% 1.51%
2016-05-26 09:30 AM Q1 2.28%
2016-08-25 09:30 AM Q2 2.47%

South Africa GDP Advances 0.7% in Q3


The South African economy expanded an annualized 0.7 percent on quarter in the three months to September of 2015, recovering from a 1.3 percent contraction in the previous period and boosted by a rebound in manufacturing and wholesale and retail trade. However, figures came below market expectations of a 1.1 percent growth and lower than a 2.1 percent expansion seen a year earlier as the drop in commodity prices keeps dragging the mining sector down.

The manufacturing sector expanded for the first time in three quarters by an annualized 6.2 percent, after shrinking by 2.4 percent and 6.3 percent in the first and second quarter respectively. Production increased for petroleum, chemical products, rubber and plastic products, wood and wood products, paper, publishing and printing and food and beverages.

Activities in wholesale, retail, motor trade, catering and accommodation went up 2.5 percent, following a 0.6 percent fall in the second quarter and finance, real estate and business services increased at a faster 2.8 percent (2.6 percent in the second quarter), due to higher activities in financial markets and the banking sector. 

In contrast, mining output shrank for the second straight period, down 9.8 percent and hurt by lower production of coal, other metal ores (including platinum) and diamonds. The agricultural sector contracted 12.6 percent, third straight quarter of fall, due to lower production of field crops.

Year-on-year, the economy expanded 1 percent, slowing from a 1.3 percent increase in the second quarter of the year and the lowest since the 2009 recession. 

Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
11/24/2015 10:08:45 AM

South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 -1.30 7.60 -6.10 percent [+]
GDP Annual Growth Rate 1.00 1.20 7.10 -2.60 percent [+]
GDP 350.09 366.24 416.60 7.36 USD Billion [+]
GDP Constant Prices 3046807.00 3041689.00 3051621.00 565040.00 ZAR Million [+]
Gross National Product 3027282.00 2932656.00 3027282.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 629599.00 628682.00 640491.00 73065.00 ZAR Million [+]
GDP per capita 6086.45 6090.27 6090.27 3543.52 USD [+]
GDP per capita PPP 12446.37 12454.19 12454.19 9546.25 USD [+]
GDP From Agriculture 64197.29 67151.46 73704.94 33530.55 ZAR Million [+]
GDP From Construction 105331.00 104729.00 105331.00 14702.00 ZAR Million [+]
GDP From Manufacturing 381381.13 375680.72 391090.40 228221.00 ZAR Million [+]
GDP From Mining 229795.88 235539.65 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 469487.00 468073.00 469487.00 90907.00 ZAR Million [+]
GDP From Services 610118.00 606667.00 610118.00 66256.00 ZAR Million [+]
GDP From Transport 256209.91 256125.48 256209.91 89068.60 ZAR Million [+]
GDP From Utilities 66603.05 67318.06 70556.22 46746.92 ZAR Million [+]




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Portugal 0.00 Sep/15
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Latvia -0.01 Dec/15
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