South Africa GDP Growth Rate 1993-2014 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in South Africa expanded 1.40 percent in the third quarter of 2014 over the previous quarter. GDP Growth Rate in South Africa averaged 3.07 percent from 1993 until 2014, 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.

   
  Forecast  

South Africa GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
1.40 0.50 7.60 -6.10 1993 - 2014 percent Quarterly
South Africa export-based economy is the largest and most developed 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. Content for - South Africa GDP Growth Rate - was last refreshed on Wednesday, November 26, 2014.


South Africa GDP Up 1.4%


The South African economy advanced a seasonally adjusted annualized 1.4 percent in the third quarter of 2014, following a revised 0.5 percent expansion in the previous period. It is the highest growth rate in three quarters boosted by trade and financial services and a rebound in the mining sector.

The largest contributors to the quarter-on-quarter growth were finance, real estate and business services (+2.4 percent) and the wholesale, retail and motor trade, catering and accommodation industry each (+3.4 percent). General government services increased 2.2 percent and the agriculture, forestry and fishing industry rose 8.2 percent, boosted by crops and animal production. 

Mining output advanced 1.6 percent, following a 3.1 percent decrease in the three months to June. Meanwhile, the manufacturing sector contracted for the third consecutive quarter by 3.4 percent due to lower production in the following divisions: basic iron and steel, non-ferrous metal products, metal products and machinery; petroleum, chemical products, rubber and plastic products; and wood and wood products, paper, publishing and printing.
Year-on-year, the economy advanced 1.4 percent, following a 1.3 percent increase in the previous period.

Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
11/25/2014 12:45:46 PM


Recent Releases

South Africa GDP Grows Below Expectations
The South African economy expanded a seasonally adjusted annualized 0.6 percent in the second quarter of 2014, after contracting 0.6 percent in the first three months of the year. The agriculture, financial and transport sectors helped the country to avoid recession but a five-month strike in the platinum mines weighted on the growth. Published on 2014-08-26

South Africa GDP Contracts in Q1
South African economy shrank a seasonally adjusted annualized 0.6 percent in the first quarter of 2014. It is the first contraction since the 2009 recession, as the strike in the platinum sector dragged mining and manufacturing output down. Published on 2014-05-27


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-05-27 10:30 AM
GDP Growth Rate QoQ  Q1 2014
-0.6% 3.8% -0.1% 0.8%
2014-08-26 10:30 AM
GDP Growth Rate QoQ  Q2 2014
0.6% -0.6% 0.9% 1.6%
2014-11-25 09:30 AM
GDP Growth Rate QoQ  Q3 2014
1.4% 0.5% (R) 1.4% 0.62%
2015-02-24 09:30 AM
GDP Growth Rate QoQ  Q4 2014
1.4% -0.41%
2015-05-26 10:30 AM
GDP Growth Rate QoQ  Q1 2015
-0.59%
2015-08-25 10:30 AM
GDP Growth Rate QoQ  Q2 2015
-0.51%


South Africa GDP Last Previous Highest Lowest Unit
GDP 350.63 382.34 403.89 7.36 USD Billion [+]
GDP Growth Rate 1.40 0.50 7.60 -6.10 percent [+]
GDP Annual Growth Rate 1.40 1.30 7.10 -2.60 percent [+]
GDP Constant Prices 2013212.00 2010165.00 2013305.00 376298.00 ZAR Million [+]
Gross National Product 2057894.00 2076102.00 2076102.00 355030.00 ZAR Million [+]
GDP per capita 5916.46 5885.22 5916.46 3394.93 USD [+]
Gross Fixed Capital Formation 417174.00 416704.00 417174.00 46980.00 ZAR Million [+]
GDP per capita PPP 12105.55 12041.63 12105.55 9151.06 USD [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.50 May/14 1.10 4.50 -2.00 percent [+]
Brazil -0.60 May/14 -0.20 4.50 -4.20 percent [+]
Canada 0.80 May/14 0.20 3.33 -1.80 percent [+]
China 1.90 Aug/14 2.00 2.50 1.40 percent [+]
Euro Area 0.20 Aug/14 0.10 1.30 -2.80 percent [+]
France 0.30 Aug/14 -0.10 1.60 -1.70 percent [+]
Germany 0.10 Aug/14 -0.10 2.10 -3.70 percent [+]
India 1.20 May/14 1.90 5.80 -1.90 percent [+]
Indonesia 2.96 Aug/14 2.49 3.82 -3.57 percent [+]
Italy -0.10 Aug/14 -0.20 6.00 -3.50 percent [+]
Japan -0.40 Aug/14 -1.90 3.20 -4.00 percent [+]
Mexico 0.50 Aug/14 0.90 2.90 -6.60 percent [+]
Netherlands 0.20 Aug/14 0.60 2.00 -2.20 percent [+]
Russia 0.25 May/14 0.07 4.10 -5.40 percent [+]
South Korea 0.90 Aug/14 0.50 6.80 -7.00 percent [+]
Spain 0.50 Aug/14 0.60 1.53 -1.60 percent [+]
Switzerland 0.00 May/14 0.50 1.90 -2.20 percent [+]
Turkey -0.50 May/14 1.80 6.69 -7.57 percent [+]
United Kingdom 0.70 Aug/14 0.90 5.00 -2.70 percent [+]
United States 3.90 Aug/14 4.60 16.90 -10.00 percent [+]