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

The South African economy advanced 1 percent year-on-year in the third quarter of 2015, easing from an upwardly revised 1.3 percent expansion in the previous period and lower than market expectations of a 1.3 percent rise. It is the lowest growth rate since the 2009 recession due to a slowdown in manufacturing and finance, real estate and business services while agriculture and utilities contracted for the third straight quarter. GDP Annual Growth Rate in South Africa averaged 3.01 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
1.00 1.20 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 February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-05-26 10:30 AM Q1 2.1% 1.3% 2.1% 1.93%
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%
2016-02-24 09:30 AM Q4 1% 0.97%
2016-05-26 09:30 AM Q1 0.56%
2016-08-25 09:30 AM Q2 0.94%

South Africa Annual GDP Growth Slows to 1%


The South African economy advanced 1 percent year-on-year in the third quarter of 2015, easing from an upwardly revised 1.3 percent expansion in the previous period and lower than market expectations of a 1.3 percent rise. It is the lowest growth rate since the 2009 recession due to a slowdown in manufacturing and finance, real estate and business services while agriculture and utilities contracted for the third straight quarter.

The mining sector recorded the highest increase (up 4.3 percent compared to a 1.4 percent rise in Q2) while wholesale and retail trade (up 1.3 percent compared to 1.2 percent in Q2), construction (up 2.1 percent compared to 1.7 percent in Q2) and transportation and communication (up 1.7 percent compared to 1.1 percent in Q2) accelerated. In contrast, finance, real estate and business services (up 2.9 percent compared to 3.1 percent in Q2) and manufacturing (up 0.4 percent compared to 1.4 percent in Q2) grew at a slower pace while utilities output (down 0.4 percent) and agriculture (down 7.3 percent) contracted. 

On a quarter-on-quarter seasonally adjusted annualized basis, the economy expanded 0.7 percent, rebounding from a 1.3 percent contraction in the three months to June but lower than market expectations.

Considering the first nine months of the year, the GDP increased 1.5 percent from the same period in 2014.

Statisitics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
11/24/2015 10:27:07 AM

South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 -1.30 7.60 -6.10 percent [+]
GDP Annual Growth Rate 1.00 1.20 7.10 -2.60 percent [+]
GDP 350.09 366.24 416.60 7.36 USD Billion [+]
GDP Constant Prices 3046807.00 3041689.00 3051621.00 565040.00 ZAR Million [+]
Gross National Product 3027282.00 2932656.00 3027282.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 629599.00 628682.00 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 64197.29 67151.46 73704.94 33530.55 ZAR Million [+]
GDP From Construction 105331.00 104729.00 105331.00 14702.00 ZAR Million [+]
GDP From Manufacturing 381381.13 375680.72 391090.40 228221.00 ZAR Million [+]
GDP From Mining 229795.88 235539.65 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 469487.00 468073.00 469487.00 90907.00 ZAR Million [+]
GDP From Services 610118.00 606667.00 610118.00 66256.00 ZAR Million [+]
GDP From Transport 256209.91 256125.48 256209.91 89068.60 ZAR Million [+]
GDP From Utilities 66603.05 67318.06 70556.22 46746.92 ZAR Million [+]




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