South Africa GDP Annual Growth Rate

The Gross Domestic Product (GDP) in South Africa expanded 2 percent in the fourth quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in South Africa is reported by the Statistics South Africa. GDP Annual Growth Rate in South Africa averaged 3.19 Percent from 1994 until 2013, 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. 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. 2014-04-25

Actual Previous Highest Lowest Forecast Dates Unit Frequency
2.00 1.70 7.10 -2.70 1.90 | 2014/03 1994 - 2013 Percent Quarterly

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South Africa GDP Annual Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-05-28 10:30 AM South Africa
GDP Growth Rate YoY
Q1 2013 1.90% 2.50% 2.40% 2.50%
2013-08-27 10:30 AM South Africa
GDP Growth Rate YoY
Q2 2013 2.0% 1.90% 2% 1.72%
2013-11-26 09:30 AM South Africa
GDP Growth Rate YoY
Q3 2013 1.8% 2.3% (R) 2.27%
2014-02-25 09:30 AM South Africa
GDP Growth Rate YoY
Q4 2013 2.0% 1.7% (R) 1.62%
2014-05-27 10:30 AM South Africa
GDP Growth Rate YoY
Q1 2014 2.0% 1.89%
2014-08-26 10:30 AM South Africa
GDP Growth Rate YoY
Q2 2014 1.88%
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GDP Last Previous Highest Lowest Forecast Unit
GDP Growth Rate 3.80 2013-12-31 0.70 7.60 -6.30 1.73 2014-03-31 Percent [+]
GDP Annual Growth Rate 2.00 2013-12-31 1.70 7.10 -2.70 1.90 2014-03-31 Percent [+]
GDP Constant Prices 2013305.00 2013-11-15 1994455.00 2013305.00 376298.00 2017874.54 2014-03-31 ZAR Million [+]
Gross Fixed Capital Formation 414071.00 2013-11-15 410953.00 414071.00 46980.00 415941.94 2014-03-31 ZAR Million [+]
Gross National Product 2047644.00 2013-11-15 2049576.00 2056326.00 355030.00 2058189.05 2014-03-31 ZAR Million [+]
GDP 384.31 2012-12-31 401.80 401.80 7.34 363.96 2014-06-30 USD Billion [+]
GDP per capita 6003.46 2012-12-31 5923.99 6003.46 3394.93 6133.19 2014-06-30 USD [+]
GDP per capita PPP 10959.74 2011-12-31 10520.03 10959.74 4183.73 12067.77 2014-06-30 USD [+]
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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.

Year-on-year, the most notable performance of industries in the last quarter of 2013 was for mining and quarrying, which rose 9.4 percent, up from 2.7 percent in the preceding quarter.

Except for agriculture, electricity and water supply, transport and communication and financial services, all sectors recorded highest growth rates than in the previous quarter. 

The construction industry accelerated to 4.5 percent (2.4 percent in the previous quarter); the wholesale, retail and motor trade; catering and accommodation industry increased slightly by 2.1 percent. Manufacturing output recovered from a 0.4 percent contraction in the September quarter and grew 1.1 percent. 

The transport, storage and communication industry decreased slightly to 2.0 percent and agriculture, forestry and fishing shrank for the second straight quarter by 1.9 percent.  

On a quarter-on-quarter basis, the economy advanced more than expected to 3.8 percent, after a 0.7 percent expansion in the previous three-month period. 

For full 2013, the economy advanced 1.9 percent, slowing from a 2.5 percent expansion in 2012. The largest contributions to the increase in economic activity came from finance, real estate and business services, wholesale, retail and motor trade, mining and quarrying, transport, storage and communication and general government services. 

Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
2/25/2014 9:54:36 AM

RECENT RELEASES

South Africa GDP Growth Slows to 1.8% YoY in Q3
In the third quarter of 2013, South African economy slowed to a 1.8 percent annual growth rate, down from 2.3 percent in the previous three-month period, as the recover in mining and quarrying was not enough to offset a drop in manufacturing. Published on 2013-11-26

South African Economy Expands 2% YoY in Q2
In the second quarter of 2013, South African GDP expanded 2 percent over a year earlier, from 1.9 percent recorded in the first quarter. Manufacturing, agriculture and services were the main source of growth, while mining contracted. Published on 2013-08-27


GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


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