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

The South African economy shrank an annualized 1.2 percent on quarter in the three months to March of 2016, compared to a 0.4 percent growth in the previous quarter and worse than market expectations of 0.1 percent drop. It is the first contraction since the second quarter last year, dragged down by mining and quarrying and transport sectors. On a yearly basis, the GDP fell 0.2 percent, marking the first drop since the fourth quarter of 2009. GDP Growth Rate in South Africa averaged 2.97 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
-1.20 0.40 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 August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-11-24 09:30 AM Q3 0.7% -1.3% 1.1% 0.3%
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 -0.2%
2016-12-06 09:30 AM Q3 0.3%

South African GDP Contracts 1.2% in Q1


The South African economy shrank an annualized 1.2 percent on quarter in the three months to March of 2016, compared to a 0.4 percent growth in the previous quarter and worse than market expectations of 0.1 percent drop. It is the first contraction since the second quarter last year, dragged down by mining and quarrying and transport sectors.

The mining and quarrying sector shrank an annualized 18.1 percent (+1.4 percent in Q4), transport fell 2.7 percent (-0.3 percent in Q3), agriculture contracted for the fifth consecutive period by 6.5 percent (-6.7 percent in Q4) and electricity, gas and water declined 2.8 percent (+1 percent in Q4). 

In contrast, activities in wholesale, retail, motor trade, catering and accommodation advanced 1.3 percent, following a 2.6 percent growth in Q4 and construction rose at a slower 0.5 percent following a 1.4 percent growth in the previous period. Finance, real estate and business services rose 1.9 percent (+1.7 percent in Q4) and general government services expanded 1.1 percent (+1.2 percent in Q4).

Year-on-year, the economy contracted 0.2 percent, following 0.5 percent growth in the fourth quarter, the first drop since the fourth quarter of 2009.

Statisitics South Africa | Yekaterina Guchshin | yekaterina@tradingeconomics.com
6/8/2016 1:21:15 PM

South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate -1.20 0.40 7.60 -6.10 percent [+]
GDP Annual Growth Rate -0.20 0.60 7.10 -2.60 percent [+]
GDP 312.80 349.90 416.60 7.36 USD Billion [+]
GDP Constant Prices 3067490.42 3073185.47 3083978.97 565040.00 ZAR Million [+]
Gross National Product 2970942.00 2919799.00 2970942.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 628530.30 638282.40 642798.20 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 66821.00 67947.00 77828.85 33530.55 ZAR Million [+]
GDP From Construction 109411.71 109270.00 109411.71 14702.00 ZAR Million [+]
GDP From Manufacturing 378896.30 378357.04 391090.40 228221.00 ZAR Million [+]
GDP From Mining 219657.70 230877.11 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 467662.36 466396.82 467662.36 90907.00 ZAR Million [+]
GDP From Services 614343.95 611464.00 614343.95 66256.00 ZAR Million [+]
GDP From Transport 259164.29 260948.02 261136.64 89068.60 ZAR Million [+]
GDP From Utilities 65500.05 65963.47 70556.22 46746.92 ZAR Million [+]




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Colombia 0.20 Mar/16
Portugal 0.20 Jun/16
Taiwan 0.15 Jun/16
Lithuania 0.10 Jun/16
Switzerland 0.10 Mar/16
Uruguay 0.10 Mar/16
Cameroon 0.05 Dec/15
France 0.00 Jun/16
Italy 0.00 Jun/16
Japan 0.00 Jun/16
Mozambique 0.00 Jun/16
Peru 0.00 Mar/16
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Brazil -0.30 Mar/16
Chile -0.40 Jun/16
Iceland -0.50 Mar/16
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Uganda -1.30 Mar/16
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