South Africa GDP Growth Rate 1993-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in South Africa expanded an annualized 1.3 percent in the first quarter of 2015 over the previous quarter. GDP Growth Rate in South Africa averaged 3.09 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.

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South Africa GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
1.30 4.10 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. Content for - South Africa GDP Growth Rate - was last refreshed on Wednesday, May 27, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2014-11-25 09:30 AM Q3 1.4% 0.5% (R) 1.4% 0.62%
2015-02-24 09:30 AM Q4 4.1% 2.1% (R) 3.7% 3.4%
2015-05-26 10:30 AM Q1 1.3% 4.1% 1.7% 1.4%
2015-08-25 09:30 AM Q2 1.3% 0.35%
2015-11-24 09:30 AM Q3 -0.01%


South Africa GDP Growth Slows in Q1


The South African economy expanded an annualized 1.3 percent on quarter in the first three months of 2015, down from 4.1 percent in the previous quarter and below market expectations, due to a slump in agriculture and manufacturing.

The agriculture sector shrank 16.6 percent, the first fall in nearly two years while manufacturing contracted 2.4 percent due to power constraints. Production was lower for petroleum, chemical products, rubber and plastic products; radio, television and communication apparatus and professional equipment; and wood and wood products, paper, publishing and printing.  

In contrast, the mining sector recorded the highest increase (10.2 percent), boosted by coal and coal metal ores including platinum. Finance, real estate and business services went up 3.8 percent due to increased activities in banking from financial intermediation services and equity, bond and other financial markets in auxiliary activities. The wholesale, retail and motor trade, catering and accommodation industry rebounded from last quarter’s 0.3 percent contraction and grew 1.2 percent in the first three months of 2015.

Year-on-year, the economy expanded 2.1 percent, up from 1.3 percent in the previous period and better than market expectations. 

Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
5/26/2015 11:18:23 AM


Recent Releases

South Africa GDP Growth Beats Forecasts
The South African economy expanded an annualized 4.1 percent on quarter in the last three months of 2014, up from a revised 2.1 percent increase in the previous quarter and beating market expectations. While the manufacturing sector grew for the first time in three quarters, mining posted the highest gain in a year. Published on 2015-02-24

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. Published on 2014-11-25


South Africa GDP Last Previous Highest Lowest Unit
GDP 350.63 382.34 403.89 7.36 USD Billion [+]
GDP Growth Rate 1.30 4.10 7.60 -6.10 percent [+]
GDP Annual Growth Rate 2.10 1.30 7.10 -2.60 percent [+]
GDP Constant Prices 3050345.00 3040251.00 3050345.00 565040.00 ZAR Million [+]
Gross National Product 2914842.00 2900658.00 2914842.00 504385.00 ZAR Million [+]
GDP per capita 5916.46 5885.22 5916.46 3394.93 USD [+]
Gross Fixed Capital Formation 624408.00 620442.00 640491.00 73065.00 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 Nov/14 0.40 4.50 -2.00 percent [+]
Brazil 0.30 Nov/14 0.20 4.50 -4.20 percent [+]
Canada 0.60 Nov/14 0.80 3.33 -1.80 percent [+]
China 1.30 Feb/15 1.50 2.50 1.30 percent [+]
Euro Area 0.40 Feb/15 0.30 1.30 -2.90 percent [+]
France 0.60 Feb/15 0.00 1.60 -1.70 percent [+]
Germany 0.30 Feb/15 0.70 2.10 -3.70 percent [+]
India 1.60 Nov/14 2.20 5.80 -1.90 percent [+]
Indonesia -0.18 Feb/15 -2.06 3.83 -3.57 percent [+]
Italy 0.30 Feb/15 0.00 6.00 -3.50 percent [+]
Japan 0.60 Feb/15 0.30 3.20 -4.00 percent [+]
Mexico 0.40 Feb/15 0.70 2.90 -6.60 percent [+]
Netherlands 0.40 Feb/15 0.80 2.00 -2.20 percent [+]
Russia 0.00 Nov/14 0.00 4.10 -5.40 percent [+]
South Korea 0.80 Feb/15 0.30 6.80 -7.00 percent [+]
Spain 0.90 Feb/15 0.70 1.53 -1.60 percent [+]
Switzerland 0.60 Nov/14 0.70 1.90 -2.20 percent [+]
Turkey 0.70 Nov/14 0.50 6.69 -7.57 percent [+]
United Kingdom 0.30 Feb/15 0.60 5.00 -2.70 percent [+]
United States 0.20 Feb/15 2.20 16.90 -10.00 percent [+]