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

The Gross Domestic Product (GDP) in South Africa expanded 1.40 percent in the third quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in South Africa averaged 3.08 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
1.40 1.30 7.10 -2.60 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 Sunday, December 21, 2014.


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.

Year-on-year, general government services grew by 3.2 percent. Finance, real estate and business services and the transport, storage and communication industry each increased by 2.2 percent.  Agriculture, forestry and fishing went up by 8.9 percent. 

In contrast, the mining sector shrank 2.9 percent; electricity, gas and water industry decreased by 1.8 percent and manufacturing production contracted by 0.8 percent. 

On a quarter-on-quarter seasonally adjusted basis, the economy advanced an annualized 1.4 percent in the three months to September, following a revised 0.5 percent expansion in the previous period. 

In the first nine months of 2014, the GDP grew 1.5 percent over the same period a year earlier.

Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
11/25/2014 12:39:00 PM


Recent Releases

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

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


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-05-27 10:30 AM
GDP Growth Rate YoY  Q1
1.6% 2.0% 1.89%
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
1.4% 1.03%
2015-05-26 09:30 AM
GDP Growth Rate YoY  Q1
0.93%
2015-08-25 09:30 AM
GDP Growth Rate YoY  Q2
0.85%


South Africa GDP Last Previous Highest Lowest Unit
GDP 350.63 382.34 403.89 7.36 USD Billion [+]
GDP Growth Rate 1.40 0.50 7.60 -6.10 percent [+]
GDP Annual Growth Rate 1.40 1.30 7.10 -2.60 percent [+]
GDP Constant Prices 3004322.00 2993536.00 3004322.00 376298.00 ZAR Million [+]
Gross National Product 2898560.00 2879007.00 2898560.00 355030.00 ZAR Million [+]
GDP per capita 5916.46 5885.22 5916.46 3394.93 USD [+]
Gross Fixed Capital Formation 619196.00 616037.00 619196.00 46980.00 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 2.70 Aug/14 2.70 9.00 -3.40 percent [+]
Brazil -0.20 Aug/14 -0.90 10.10 -3.15 percent [+]
Canada 2.59 Aug/14 2.54 8.80 -3.70 percent [+]
China 7.30 Aug/14 7.50 14.20 3.80 percent [+]
Euro Area 0.80 Aug/14 0.80 5.00 -5.50 percent [+]
France 0.40 Aug/14 0.00 4.90 -4.30 percent [+]
Germany 1.20 Aug/14 1.00 5.20 -6.80 percent [+]
India 5.30 Aug/14 5.70 11.40 -5.20 percent [+]
Indonesia 5.01 Aug/14 5.12 7.16 1.56 percent [+]
Italy -0.50 Aug/14 -0.30 10.30 -6.90 percent [+]
Japan -1.20 Aug/14 -0.20 9.40 -9.40 percent [+]
Mexico 2.20 Aug/14 1.60 8.50 -8.10 percent [+]
Netherlands 1.10 Aug/14 1.10 5.80 -4.40 percent [+]
Russia 0.70 Aug/14 0.80 12.10 -11.20 percent [+]
South Korea 3.20 Aug/14 3.50 18.20 -7.30 percent [+]
Spain 1.60 Aug/14 1.30 5.80 -4.40 percent [+]
Switzerland 1.90 Aug/14 1.60 7.30 -3.70 percent [+]
Turkey 1.70 Aug/14 2.20 12.60 -14.70 percent [+]
United Kingdom 3.00 Aug/14 3.20 9.80 -5.80 percent [+]
United States 2.40 Aug/14 2.60 13.40 -4.10 percent [+]