South Africa GDP Annual Growth Rate  1994-2017 | Data | Chart | Calendar

The South African economy expanded 0.7 percent year-on-year in the last three months of 2016, the same as in the previous quarter and above market expectations of 0.6 percent. A recovery in agriculture and stronger growth in trade, finance, real estate, business and government services drove the expansion, offsetting contraction in mining, manufacturing and utilities. In 2016, the economy advanced 0.3 percent, compared with 1.3 percent in 2015. GDP Annual Growth Rate in South Africa averaged 2.89 percent from 1994 until 2016, 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.

South Africa GDP Annual Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-09-06 09:30 AM Q2 0.6% -0.1% 0.5% -0.5%
2016-12-06 07:30 AM Q3 0.7% 0.7% 0.7% 0.7%
2017-03-07 09:30 AM Q4 0.7% 0.7% 0.6% 0.4%
2017-06-07 09:30 AM Q1 0.7% 0.8%
2017-09-05 09:30 AM Q2 0.8%
2017-12-05 09:30 AM Q3 1%




South Africa Annual GDP Growth Beats Expectations


The South African economy expanded 0.7 percent year-on-year in the last three months of 2016, the same as in the previous quarter and above market expectations of 0.6 percent. A recovery in agriculture and stronger growth in trade, finance, real estate, business and government services drove the expansion, offsetting contraction in mining, manufacturing and utilities.

Agriculture rose 2.4 percent, first expansion in nearly two years, following a 5.2 percent drop in the previous period. In addition, stronger growth was reported in trade, catering and accommodation (1.1 percent compared to 0.7 percent in Q3); finance, real estate and business services (1.8 percent compared to 1.7 percent) and government services (2.2 percent compared to 1.1 percent). 

In contrast, expansion slowed in construction (0.2 percent compared to 1 percent in Q3) and personal services (1.1 percent compared to 1.5 percent) while contraction was reported in mining (-3.1 percent compared to -0.1 percent ), utilities (-3.2 percent compared to -2.1 percent) and manufacturing (-0.7 percent compared to +0.5 percent). 

On a quarterly basis, the GDP contracted an annualized 0.3 percent, compared to expectations of a 0.5 percent growth. 

Considering full 2016, the economy advanced a meager 0.3 percent, below a 1.3 percent expansion in 2015, mainly due to contraction in mining (-4.7 percent compared to +3.9 percent in 2015) and agriculture (-7.8 percent compared to -6.1 percent in 2015). In contrast, both manufacturing and construction increased 0.7 percent each (-0.2 percent and +1.7 percent respectively 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). 

Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
3/7/2017 12:57:30 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 Annual Growth Rate Notes

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 March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.70 7.10 -2.60 1994 - 2016 percent Quarterly



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