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

The South African economy contracted an annualized 0.3 percent on quarter in the three months to December of 2016, compared to an upwardly revised 0.4 percent growth in the previous quarter and missing market consensus of a 0.5 percent expansion. It was the first contraction since the March quarter of 2016 driven by decline in mining and quarrying and manufacturing. 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)
2016-09-06 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 -0.3% 0.4% 0.5% 0.6%
2017-06-07 09:30 AM Q1 -0.3% 0.8%
2017-09-05 09:30 AM Q2 0.7%
2017-12-05 09:30 AM Q3 0.9%




South African GDP Unexpectedly Shrinks 0.3% in Q4


The South African economy contracted an annualized 0.3 percent on quarter in the three months to December of 2016, compared to an upwardly revised 0.4 percent growth in the previous quarter and missing market consensus of a 0.5 percent expansion. It was the first contraction since the March quarter of 2016 driven by mining and quarrying and manufacturing industries.

The largest negative contributor was the mining and quarrying industry, which decreased by 11.5 percent and contributed -0.9 percentage point. This was largely the result of lower production in coal, gold and 'other' metal ores (including platinum). Manufacturing decreased by 3.1 percent  mainly due to lower production in the manufacturing of food and beverages, petroleum, chemical products, rubber and plastic products and motor vehicles, parts, accessories and other transport equipment. The agriculture, forestry and fishing industry declined by 0.1 percent. It marks the eighth consecutive quarter of contraction due to severe droughts and falling production of horticulture products.

In contrast, trade, catering and accommodation went up 2.1 percent and finance, real estate and business services rose by 1.6 percent and each contributed 0.3 of a percentage point to growth. Increased activity was reported for financial intermediation, auxiliary activities and real estate services. The transport, storage and communication industry expanded 2.6 percent and contributed 0.2 of a percentage point, driven by land freight transportation and communications services. In addition, general government services grew by 0.9 percent and personal services rose 1 percent. The electricity, gas and water industry grew by 2.4 percent, largely due to an increase in electricity consumed in the fourth quarter. The amount of water distributed decreased, mainly driven by continued dry conditions and water restrictions in most parts of the country.

Year-on-year, the economy grew by 0.7 percent, the same as in the previous three months and above market expectations of 0.6 percent growth.

Considering full 2016, the GDP advanced 0.3 percent slowing from a 1.3 percent expansion in 2015. Growth was mainly driven by finance, real estate and business services (1.9 percent compared to 2.8 percent in 2015); general government services (1.4 percent compared to 0.8 percent in 2015) and wholesale, retail and motor trade; catering and accommodation industry (1.2 percent compared to 1.4 percent in 2015). Both manufacturing and construction increased 0.7 percent each (-0.2 percent and +1.7 percent respectively in 2015). In contrast, the mining sector slumped 4.7 percent (+3.9 percent in 2015) and agriculture shrank 7.8 percent (-6.1 percent in 2015).

Statistics South Africa | Deborah Neves | deborah.neves@tradingeconomics.com
3/7/2017 12:58:54 PM



South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.30 0.40 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 3084846.60 3086002.60 3086002.60 565040.00 ZAR Million [+]
Gross National Product 3009793.00 2988890.00 3009793.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 612273.80 609754.40 644763.00 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 65470.02 65493.21 78180.79 33530.55 ZAR Million [+]
GDP From Construction 109316.14 109212.24 109316.14 14702.00 ZAR Million [+]
GDP From Manufacturing 381498.22 384512.14 391090.40 228221.00 ZAR Million [+]
GDP From Mining 223211.87 230104.53 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 475929.38 474911.36 475929.38 90907.00 ZAR Million [+]
GDP From Services 620855.80 618470.28 620855.80 66256.00 ZAR Million [+]
GDP From Transport 264114.25 262431.15 264114.25 89068.60 ZAR Million [+]
GDP From Utilities 64119.86 63738.04 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 March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-0.30 0.40 7.60 -6.10 1993 - 2016 percent Quarterly



Last
Singapore 12.30 Dec/16
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India 1.60 Dec/16
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Tanzania 1.50 Sep/10
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Romania 1.30 Dec/16
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Australia 1.10 Dec/16
Ghana 1.10 Sep/16
Norway 1.10 Dec/16
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Bosnia and Herzegovina 1.00 Sep/16
Colombia 1.00 Dec/16
Mongolia 1.00 Dec/16
Sweden 1.00 Dec/16
Albania 0.90 Sep/16
Bulgaria 0.90 Dec/16
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Saudi Arabia 0.90 Sep/16
Latvia 0.80 Dec/16
Slovakia 0.80 Dec/16
Cyprus 0.70 Dec/16
Mexico 0.70 Dec/16
Spain 0.70 Dec/16
United Kingdom 0.70 Dec/16
Canada 0.60 Dec/16
Croatia 0.60 Dec/16
Moldova 0.60 Dec/16
Peru 0.60 Dec/16
Portugal 0.60 Dec/16
Argentina 0.50 Dec/16
Austria 0.50 Dec/16
Belgium 0.50 Dec/16
Ecuador 0.50 Sep/16
European Union 0.50 Dec/16
Netherlands 0.50 Dec/16
Taiwan 0.45 Dec/16
Czech Republic 0.40 Dec/16
Euro Area 0.40 Dec/16
France 0.40 Dec/16
Germany 0.40 Dec/16
Hungary 0.40 Dec/16
New Zealand 0.40 Dec/16
South Korea 0.40 Dec/16
Thailand 0.40 Dec/16
Cameroon 0.30 Mar/16
Japan 0.30 Dec/16
Denmark 0.20 Dec/16
Italy 0.20 Dec/16
Serbia 0.20 Dec/16
Tunisia 0.20 Dec/16
El Salvador 0.13 Sep/16
Kenya 0.10 Sep/16
Switzerland 0.10 Dec/16
Belize 0.04 Sep/16
Finland 0.00 Dec/16
Luxembourg -0.10 Sep/16
Uganda -0.20 Sep/16
Paraguay -0.30 Dec/16
South Africa -0.30 Dec/16
Chile -0.40 Dec/16
Bolivia -0.56 Mar/16
Russia -0.57 Sep/15
Botswana -0.80 Sep/16
Brazil -0.90 Dec/16
Rwanda -1.10 Dec/16
Greece -1.20 Dec/16
Mozambique -1.70 Dec/16
Senegal -1.70 Sep/16
Indonesia -1.77 Dec/16
Dominican Republic -2.18 Sep/16
Turkey -2.70 Sep/16
Trinidad And Tobago -3.30 Sep/16