South Africa GDP Annual Growth Rate  1994-2016 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in South Africa expanded 0.60 percent in the fourth quarter of 2015 over the same quarter of the previous year. GDP Annual Growth Rate in South Africa averaged 2.98 percent from 1994 until 2015, reaching an all time high of 7.10 percent in the fourth quarter of 2006 and a record low of -2.60 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
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Actual Previous Highest Lowest Dates Unit Frequency
0.60 1.00 7.10 -2.60 1994 - 2015 percent Quarterly
South Africa is the most developed country in Africa and was the largest until 2014, when it was overtaken by Nigeria. 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 (21.6 percent); government services (17 percent); wholesale, retail and motor trade, catering and accommodation (15 percent); and transport, storage and communication (9.3 percent). Manufacturing accounts for 13.9 percent; mining and quarrying for around 8.3 percent and agriculture for only 2.6 percent. This page provides - South Africa GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa GDP Annual 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 1.2% 2.1% 2% 2%
2015-11-24 09:30 AM Q3 1.0% 1.3% 1.3% 1%
2016-03-01 09:30 AM Q4 0.6% 1% 0.4% 0.6%
2016-05-26 09:30 AM Q1 0.6% 0.9%
2016-08-25 09:30 AM Q2 0.5%
2016-11-24 09:30 AM Q3 0.9%

South African Economy Grows 0.6% in Q4, 1.3% in 2015


The South African economy advanced 0.6 percent year-on-year in the last quarter of 2015, easing from a 1 percent expansion in the previous period but beating market expectations of a 0.4 percent growth. It was the lowest growth rate since the 2009 recession due to a slowdown in finance and construction while manufacturing, mining and agriculture contracted.

Compared to the fourth quarter of 2014, finance, real estate and business services expansion slowed to 2.6 percent (+3.1 percent in Q3) and construction grew by 1.1 percent (+1.7 percent in Q3). Also, activities in wholesale, retail, motor trade, catering and accommodation advanced 1.7 percent, following a 1.2 percent growth in Q3.

In contrast, the manufacturing sector shrank 0.8 percent (+1.4 percent in Q3), the mining and quarrying sector contracted 0.6 percent (+1.4 percent in Q3) and agriculture output fell for the third straight quarter by 14.1 percent (-16.2 percent in Q3).

On a quarterly basis, the economy advanced 0.6 percent, slowing from a 0.7 percent growth in the third quarter.

Considering full 2015, the GDP grew 1.3 percent compared to a 1.4 percent expansion in 2014, as the main contributors were finance, real estate and business services (0.6 of a percentage point), the mining and quarrying industry and the wholesale, retail and motor trade; catering and accommodation industry (each contributing 0.2 of a percentage point). While, a negative contribution was recorded by the agriculture, forestry and fishing industry (-0.2 of a percentage point).

Statisitics South Africa | Joana Ferreira | joana.ferreira@tradingeconomics.com
3/1/2016 10:35:53 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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