South Africa GDP Growth Rate  1993-2017 | Data | Chart | Calendar

The South African economy expanded an annualized 0.2 percent on quarter in the three months to September of 2016, compared to an upwardly revised 3.5 percent growth in the June quarter and below market estimates of a 0.5 percent expansion. It was the second straight quarter of growth, mainly supported by mining, general government services and real estate activities while manufacturing shrank. Year-on-year, the economy grew by 0.7 percent, slightly faster than a 0.6 percent expansion in the previous three months and in line with consensus. It was the strongest growth since the third quarter of 2015. GDP Growth Rate in South Africa averaged 2.90 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.

South Africa GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
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 07:30 AM Q3 0.2% 3.5% 0.5% 0.6%
2017-03-07 09:30 AM Q4 0.2% 1.79%
2017-06-07 09:30 AM Q1 1.69%
2017-09-05 09:30 AM Q2 2.03%




South Africa GDP Growth Slows to 0.2% QoQ in Q3


The South African economy expanded an annualized 0.2 percent on quarter in the three months to September of 2016, compared to an upwardly revised 3.5 percent growth in the June quarter and below market estimates of a 0.5 percent expansion. It was the second straight quarter of growth, mainly supported by mining, general government services and real estate activities while manufacturing shrank.

The largest contributor to GDP growth was mining and quarrying,  growing 5.1 percent and contributing 0.4 percentage point. This was largely the result of increased production in the mining of ‘other’ metal ores, in particular iron ore.

General government services advanced 1.8 percent and contributed 0.3 percentage point to growth.

Growth in finance, real estate and business services went up 1.2 percent and contributed 0.2 percentage point to growth. Activity increased for financial intermediation, auxiliary activities and real estate services.

In contrast, manufacturing industry contracted by 3.2 percent, compared to a 8.1 percent expansion the the June quarter. Notable decreases were reported by the petroleum products, chemicals, rubber and plastic division; the basic iron and steel, non-ferrous metal products, metal products and machinery division; and the food, beverages and tobacco division. The output for electricity, water and gas shrank 2.9 percent, compared to a 1.8 percent decline in the June quarter,  largely due to a decline in electricity consumed. Similarly, the amount of water distributed decreased, mainly driven by continued dry conditions and water restrictions in most parts of the country. The agricultural sector shrank 0.3 percent, following a 0.8 percent decline in the previous period. It marks the seventh consecutive quarter of contraction due to severe droughts, mainly due to a decline in horticulture products.

Year-on-year, the economy grew by 0.7 percent, the same from an upwardly revised figure in the second quarter.


Statistics South Africa l Rida Husna | rida@tradingeconomics.com
12/6/2016 8:36:13 AM



South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.20 3.50 7.60 -6.10 percent [+]
GDP Annual Growth Rate 0.70 0.70 7.10 -2.60 percent [+]
GDP 314.57 351.31 416.42 7.36 USD Billion [+]
GDP Constant Prices 3095467.20 3089550.00 3095467.20 565040.00 ZAR Million [+]
Gross National Product 3009793.00 2988890.00 3009793.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 609390.90 614389.00 642798.00 73065.00 ZAR Million [+]
GDP per capita 7593.36 7623.13 7623.13 4430.38 USD [+]
GDP per capita PPP 12405.67 12454.31 12454.31 9535.55 USD [+]
GDP From Agriculture 66636.05 66682.05 77828.85 33530.55 ZAR Million [+]
GDP From Construction 109394.00 109380.34 109394.00 14702.00 ZAR Million [+]
GDP From Manufacturing 383269.43 386355.28 391090.40 228221.00 ZAR Million [+]
GDP From Mining 231242.82 225875.02 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 470912.80 469052.00 470912.80 90907.00 ZAR Million [+]
GDP From Services 620671.23 618824.75 620671.23 66256.00 ZAR Million [+]
GDP From Transport 261237.15 261028.96 261237.15 89068.60 ZAR Million [+]
GDP From Utilities 64723.97 65207.89 70556.22 46746.92 ZAR Million [+]



South Africa GDP Growth Rate Notes

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 January of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.20 3.50 7.60 -6.10 1993 - 2016 percent Quarterly



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