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

The South African economy advanced an annualized 0.4 percent on quarter in the three months to December of 2015, compared to a 0.3 percent growth in the previous quarter, revised figures showed. The GDP had been previously reported as expanding 0.6 percent. Considering full 2015, the GDP grew an unrevised 1.3 percent compared to a 1.6 percent expansion in 2014. 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
0.60 0.70 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 May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
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%
2016-03-01 09:30 AM Q4 0.6% 0.7% 0.8% 1%
2016-06-08 09:30 AM Q1 0.4% 0.1%
2016-09-06 09:30 AM Q2 0.5%
2016-12-06 09:30 AM Q3 1.3%

South Africa Q4 GDP Growth Slows to 0.6%


The South African economy advanced an annualized 0.6 percent on quarter in the three months to December of 2015, easing from a 0.7 percent growth in the previous period while missing market consensus of 0.8 percent. Trade, mining and construction were the main drivers of growth while manufacturing and agriculture dragged the expansion down.

Activities in wholesale, retail, motor trade, catering and accommodation advanced 2.8 percent, following a 2.5 percent growth in Q3 and mining and quarrying expanded by 1.5 percent after contracting by 9.8 percent and 6.4 percent in the second and third quarters of 2015, respectively. Also, construction rose at a faster 1.1 percent following a 0.5 percent growth in the previous period. Finance, real estate and business services expansion slowed to 1.9 percent (+2.8 percent in Q3). 

In contrast, the manufacturing sector shrank an annualized 2.6 percent, after growing 6.2 percent in the third quarter and the agricultural sector contracted 14 percent, marking the fourth straight quarter of contraction.

Year-on-year, the economy advanced 0.6 percent, slowing from a 1 percent growth in the third quarter and hitting its lowest level since the 2009 recession.

Considering full 2015, the GDP grew 1.3 percent compared to a 1.4 percent expansion in 2014.

Statisitics South Africa | Joana Ferreira | joana.ferreira@tradingeconomics.com
3/1/2016 10:20:47 AM

South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.70 7.60 -6.10 percent [+]
GDP Annual Growth Rate 0.60 1.00 7.10 -2.60 percent [+]
GDP 350.09 366.24 416.60 7.36 USD Billion [+]
GDP Constant Prices 3051488.00 3046807.00 3051621.00 565040.00 ZAR Million [+]
Gross National Product 2919799.00 3027282.00 3027282.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 634274.00 629599.00 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 61828.13 64197.29 73704.94 33530.55 ZAR Million [+]
GDP From Construction 105620.00 105331.00 105620.00 14702.00 ZAR Million [+]
GDP From Manufacturing 378925.20 381381.13 391090.40 228221.00 ZAR Million [+]
GDP From Mining 230676.55 229795.88 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 470656.00 469487.00 470656.00 90907.00 ZAR Million [+]
GDP From Services 612940.00 610118.00 612940.00 66256.00 ZAR Million [+]
GDP From Transport 256097.45 256209.91 256209.91 89068.60 ZAR Million [+]
GDP From Utilities 66748.84 66603.05 70556.22 46746.92 ZAR Million [+]




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