The South African economy contracted an annualized 0.6 percent on quarter in the three months to September of 2019, following an upwardly revised 3.2 percent growth in the previous period and much worse than market expectations of a 0.1 percent expansion. Mining, manufacturing and transport, storage and communication industries contributed the most to the GDP contraction. GDP Growth Rate in South Africa averaged 2.68 percent from 1993 until 2019, reaching an all time high of 7.60 percent in the fourth quarter of 1994 and a record low of -6.10 percent in the first quarter of 2009. source: Statistics South Africa

GDP Growth Rate in South Africa is expected to be -2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in South Africa to stand at 1.40 in 12 months time. In the long-term, the South Africa GDP Growth Rate is projected to trend around 1.50 percent in 2020, according to our econometric models.

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South Africa GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.60 3.20 7.60 -6.10 1993 - 2019 percent Quarterly



Calendar GMT Actual Previous Consensus TEForecast
2019-03-05 09:30 AM Q4 1.4% 2.6% 1.6% 1.6%
2019-06-04 09:30 AM Q1 -3.2% 1.4% -1.7% -1.4%
2019-09-03 09:30 AM Q2 3.1% -3.1% 2.4% 2.3%
2019-12-03 09:30 AM Q3 -0.6% 3.2% 0.1% 0.3%
2020-03-03 09:30 AM Q4 -0.6% -0.4%


News Stream
2019-09-03
South Africa Economy Returns to Growth in Q2
The South African GDP grew 3.1 percent on quarter in the three months to June of 2019, following a downwardly revised 3.1 percent contraction in the previous period and beating market expectations of a 2.4 percent expansion. It was the strongest growth rate since the last quarter of 2017, partly due to low base effects and the positive impact of reduced power cuts in mining and manufacturing.

2019-06-04
South Africa GDP Contracts the Most in 10 Years
The South African economy shrank an annualized 3.2 percent on quarter in the three months to March of 2019, following a 1.4 percent growth in the previous period and compared with market expectations of a 1.7 percent contraction. It was the sharpest quarterly decline since Q1 2009, mainly reflecting the effects of Eskom's power cuts on manufacturing and mining.

2019-03-05
South Africa GDP Growth Weakens to 1.4% QoQ in Q4
The South African economy advanced a seasonally adjusted annualized 1.4 percent on quarter in the three months to December of 2018, following an upwardly revised 2.6 percent growth in the previous period and missing market expectations of a 1.8 percent expansion. Manufacturing and agriculture grew less and contractions were primarily recorded in internal trade, public administration and mining.


South Africa GDP Growth Rate
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.

South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.60 3.20 7.60 -6.10 percent [+]
GDP Annual Growth Rate 0.10 0.90 7.10 -2.60 percent [+]
GDP 366.30 348.87 416.42 7.58 USD Billion [+]
GDP Constant Prices 3153591.90 3155611.90 3160551.30 565040.00 ZAR Million [+]
Gross National Product 3122800.00 3141802.00 3141802.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 613639.90 606856.20 644549.00 73065.00 ZAR Million [+]
GDP per capita 7433.60 7476.40 7582.70 4624.10 USD [+]
GDP per capita PPP 12143.47 12233.37 12388.26 9014.28 USD [+]
GDP From Agriculture 69058.48 69690.51 89120.92 33530.55 ZAR Million [+]
GDP From Construction 105755.19 106483.38 110107.16 14702.00 ZAR Million [+]
GDP From Manufacturing 383117.25 386951.40 393954.72 228221.00 ZAR Million [+]
GDP From Mining 226361.45 229946.42 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 488805.96 485943.53 488805.96 90907.00 ZAR Million [+]
GDP From Services 656905.07 654270.43 656905.07 66256.00 ZAR Million [+]
GDP From Transport 271489.94 275280.76 278622.84 89068.60 ZAR Million [+]
GDP From Utilities 64509.25 65317.74 70556.22 46746.92 ZAR Million [+]