South Africa GDP Annual Growth Rate 1994-2015 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in South Africa expanded 1.30 percent in the fourth quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in South Africa averaged 3.06 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 -2.60 percent in the second quarter of 2009. GDP Annual Growth Rate in South Africa is reported by the Statistics South Africa.

     Forecast  
South Africa GDP Annual Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
1.30 1.60 7.10 -2.60 1994 - 2014 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. Content for - South Africa GDP Annual Growth Rate - was last refreshed on Monday, April 27, 2015.


South African Economy Slows in Q4


South Africa’s GDP expanded 1.3 percent year-on-year in the last quarter of 2014, following a revised 1.6 percent increase in the previous period. For 2014 as a whole, the economy grew 1.5 percent, the slowest pace since a 2009 recession.

The mining sector contracted for the fourth straight quarter by 1.6 percent and electricity, water and gas production shrank for the third consecutive time by 0.9 percent.  

The agriculture, forestry and fishing industry increased by 4.2 percent, slowing from an 11.9 percent surge in the previous quarter.

In contrast, the construction sector rose at a slightly faster 2.9 percent (2.7 percent in the three months to September); transportation rose 2.6 percent (2.2 percent) and manufacturing grew 0.3 percent, rebounding from a 0.3 percent drop in the previous quarter.

On a quarter-on-quarter basis, the economy advanced an annualized 4.1 percent, the highest gain in a year. 

Considering full 2014, the economy grew 1.5 percent, down from 2.2 percent in 2013 and the lowest since 2009 when it contracted 1.5 percent. In 2014, the country faced a five-month strike in the platinum sector and several other weeks of strike. 

Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
2/24/2015 10:57:14 AM


Recent Releases

South African Economy Expands 1.4% in Q3
South African GDP advanced 1.4 percent year-on-year in the third quarter of 2014 compared with a revised 1.3 percent expansion in the previous period. Growth was mainly driven by the services sector while mining and manufacturing shrank. Published on 2014-11-25

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. Published on 2014-08-26


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-08-26 10:30 AM
GDP Growth Rate YoY  Q2
1.0% 1.6% 1.2% 1.47%
2014-11-25 09:30 AM
GDP Growth Rate YoY  Q3
1.4% 1.3% (R) 1.4% 1.3%
2015-02-24 09:30 AM
GDP Growth Rate YoY  Q4
1.3% 1.6% (R) 1% 1.03%
2015-05-26 09:30 AM
GDP Growth Rate YoY  Q1
1.3% 0.93%
2015-08-25 09:30 AM
GDP Growth Rate YoY  Q2
0.85%
2015-11-24 09:30 AM
GDP Growth Rate YoY  Q3
0.97%


South Africa GDP Last Previous Highest Lowest Unit
GDP 350.63 382.34 403.89 7.36 USD Billion [+]
GDP Growth Rate 4.10 2.10 7.60 -6.10 percent [+]
GDP Annual Growth Rate 1.30 1.60 7.10 -2.60 percent [+]
GDP Constant Prices 3040251.00 3009503.00 3040251.00 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 Annual Growth Rate Reference Previous Highest Lowest Unit
Australia 2.50 Nov/14 2.70 9.00 -3.40 percent [+]
Brazil -0.20 Nov/14 -0.60 10.10 -3.15 percent [+]
Canada 2.63 Nov/14 2.75 8.80 -3.70 percent [+]
China 7.00 Feb/15 7.30 14.20 3.80 percent [+]
Euro Area 0.90 Nov/14 0.80 5.00 -5.50 percent [+]
France 0.24 Nov/14 0.41 12.50 -3.92 percent [+]
Germany 1.60 Nov/14 1.20 5.20 -6.80 percent [+]
India 7.50 Nov/14 8.20 11.40 -5.20 percent [+]
Indonesia 5.01 Nov/14 4.92 7.16 1.56 percent [+]
Italy -0.50 Nov/14 -0.50 10.30 -6.90 percent [+]
Japan -0.80 Nov/14 -1.40 9.40 -9.40 percent [+]
Mexico 2.60 Nov/14 2.20 8.50 -8.10 percent [+]
Netherlands 1.40 Nov/14 1.00 5.80 -4.40 percent [+]
Russia 0.40 Nov/14 0.90 12.10 -11.20 percent [+]
South Korea 2.40 Feb/15 2.70 18.20 -7.30 percent [+]
Spain 2.00 Nov/14 1.60 5.80 -4.40 percent [+]
Switzerland 1.90 Nov/14 1.90 7.30 -3.70 percent [+]
Turkey 2.60 Nov/14 1.90 12.60 -14.70 percent [+]
United Kingdom 3.00 Nov/14 2.80 9.80 -5.80 percent [+]
United States 2.40 Nov/14 2.70 13.40 -4.10 percent [+]