South Africa GDP Annual Growth Rate 1994-2014 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in South Africa expanded 1 percent in the second quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in South Africa averaged 3.15 Percent from 1994 until 2014, reaching an all time high of 7.10 Percent in the fourth quarter of 2006 and a record low of -2.70 Percent in the second quarter of 2009. GDP Annual Growth Rate in South Africa is reported by the Statistics South Africa.


South Africa GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.00 1.60 7.10 -2.70 1994 - 2014 Percent Quarterly
South Africa is the biggest economy in Africa. The largest sector of the economy is services which accounts for around 73 percent of GDP. Within services, the most important are finance, real estate and business services (21.2 percent of GDP); government services (13.6 percent of GDP); wholesale, retail and motor trade, catering and accommodation (12.5 percent of GDP); and transport, storage and communication (9 percent of GDP). Manufacturing accounts for 15.3 percent of GDP; mining and quarrying for around 5.1 percent of GDP and agriculture for only 2.2 percent of GDP. This page provides - South Africa GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - South Africa GDP Annual Growth Rate - was last refreshed on Friday, November 21, 2014.

South African Economy Slows in Q2

South African GDP expanded a modest 1 percent over a year earlier in the second quarter of 2014, slowing for the second quarter in a row. It is the lowest growth rate since the recession in 2009, as a 5-month strike in the platinum sector dragged mining down for the second consecutive period.

Year-on-year, the agriculture, forestry and fishing industry recorded the highest growth rate (5.8 percent) after shrinking in the previous three quarters. The construction sector advanced 3 percent and transport and communication activities rose 2.5 percent.

The most notable negative performances were recorded for mining (-2.7 percent), electricity, water and gas supply (-0.8 percent) and manufacturing (-0.6 percent). 

Growth in the second quarter of 2014 compares with a 1.6 percent expansion in the first three months this year and 2.3 percent a year earlier. 

On a quarter-on-quarter seasonally adjusted basis, the economy advanced an annualized 0.6 percent, recovering from a 0.6 percent contraction in the first quarter of 2014.

Considering the first six months of 2014, the economy advanced 1.3 percent

Statistics South Africa | Joana Taborda |
8/26/2014 11:39:26 AM

Recent Releases

South Africa GDP Advances 1.6% YoY in Q1
In the first quarter of 2014, South African economy advanced at a slower 1.6 percent over a year earlier, hurt by a fall in mining output. The platinum strike is now in its fifth month and is the longest in the history of South Africa's mines. Published on 2014-05-27

South Africa GDP Growth Beats Expectations in Q4
In the last quarter of 2013, South African GDP growth accelerated to 2 percent over a year earlier, beating market expectations and up from a revised 1.7 percent expansion in the previous quarter mainly due to a surge in the mining sector. Published on 2014-02-25

Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-02-25 09:30 AM
GDP Growth Rate YoY  Q4 2013
2.0% 1.7% (R) 1.62%
2014-05-27 10:30 AM
GDP Growth Rate YoY  Q1 2014
1.6% 2.0% 1.89%
2014-08-26 10:30 AM
GDP Growth Rate YoY  Q2 2014
1.0% 1.6% 1.2% 1.47%
2014-11-25 09:30 AM
GDP Growth Rate YoY  Q3 2014
1.0% 1.4% 1.3%
2015-02-24 09:30 AM
GDP Growth Rate YoY  Q4 2014
2015-05-26 10:30 AM
GDP Growth Rate YoY  Q1 2015

South Africa GDP Last Previous Highest Lowest Unit
GDP 350.63 382.34 403.89 7.36 USD Billion [+]
GDP Growth Rate 0.60 -0.60 7.60 -6.30 Percent [+]
GDP Annual Growth Rate 1.00 1.60 7.10 -2.70 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 [+]