The South African economy advanced 1.1 percent year-on-year in the third quarter of 2018, after expanding 0.4 percent in the prior period and above market consensus of a 0.5 percent growth. It was the strongest growth rate since the last quarter of 2017, mostly boosted by a rebound in agriculture and transport, storage and communcation sectors. GDP Annual Growth Rate in South Africa averaged 2.78 percent from 1994 until 2018, 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 expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in South Africa to stand at 1.50 in 12 months time. In the long-term, the South Africa GDP Annual Growth Rate is projected to trend around 2.10 percent in 2020, according to our econometric models.

South Africa GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-03-06 09:30 AM GDP Growth Rate YoY 1.5% 1.3% 1.4% 1.0%
2018-06-05 09:30 AM GDP Growth Rate YoY 0.8% 1.5% 1.9% 1.3%
2018-09-04 09:30 AM GDP Growth Rate YoY 0.4% 0.8% 1% 1.3%
2018-12-04 09:30 AM GDP Growth Rate YoY 1.1% 0.4% 0.5% 0.6%
2019-03-06 09:30 AM GDP Growth Rate YoY 1.1% 0.6%
2019-06-05 09:30 AM GDP Growth Rate YoY 1.1%
2019-09-04 09:30 AM GDP Growth Rate YoY 1.3%



South Africa GDP Annual Growth Beats Estimates in Q3

The South African economy advanced 1.1 percent year-on-year in the third quarter of 2018, after expanding 0.4 percent in the prior period and above market consensus of a 0.5 percent growth. It was the strongest growth rate since the last quarter of 2017, mostly boosted by a rebound in agriculture and transport, storage and communication sectors.

Higher growth rates were seen for finance, real estate and business services (2.8 percent compared to 1.8 percent in Q2); manufacturing (1.6 percent compared to 0.5 percent); trade, catering and accommodation (0.9 percent compared to 0.1 percent); electricity, gas and water (1.4 percent compared to a flat reading); and general government services (1.0 percent compared to 0.8 percent). Additionally, output rebounded for agriculture (1.2 percent compared to -6.9 percent) and transport, storage and communication (1.2 percent compared to -0.2 percent).

On the other hand, the mining and quarrying sector contracted (-3.5 percent compared to 0.4 percent) while output shrank further for construction (-1.9 percent compared to -1.1 percent). Also, slower growth rate was recorded for personal services (0.6 percent compared to 1.0 percent).

On a seasonally adjusted quarterly basis, the economy expanded 2.2 percent on quarter in the three months to September, following a downwardly revised 0.4 percent contraction in the previous period and beating market expectations of a 1.6 percent expansion. It was the strongest growth rate since the last quarter of 2017 and shrinking for two consecutive periods, mainly driven by manufacturing, transport and communication and real state and business services.


Statistics South Africa | Stefanie Moya | stefanie.moya@tradingeconomics.com
12/5/2018 4:18:37 PM



South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.20 -0.40 7.60 -6.10 percent [+]
GDP Annual Growth Rate 1.10 0.40 7.10 -2.60 percent [+]
GDP 349.42 295.76 416.88 7.58 USD Billion [+]
GDP Constant Prices 3152768.40 3135182.70 3161082.00 565040.00 ZAR Million [+]
Gross National Product 3099991.00 3074870.00 3129892.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 607742.50 615744.10 652624.20 73065.00 ZAR Million [+]
GDP per capita 7524.51 7519.50 7582.60 4527.30 USD [+]
GDP per capita PPP 12294.88 12286.70 12389.70 8862.00 USD [+]
GDP From Agriculture 70644.48 69544.51 84820.92 33530.55 ZAR Million [+]
GDP From Construction 107969.93 108723.50 109909.36 14702.00 ZAR Million [+]
GDP From Manufacturing 390369.75 383348.36 391090.40 228221.00 ZAR Million [+]
GDP From Mining 228080.48 233376.82 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 482324.46 480474.15 482324.46 90907.00 ZAR Million [+]
GDP From Services 647524.22 643866.31 647524.22 66256.00 ZAR Million [+]
GDP From Transport 271525.01 267778.61 271525.01 89068.60 ZAR Million [+]
GDP From Utilities 65471.98 65615.03 70556.22 46746.92 ZAR Million [+]


South Africa GDP Annual 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. 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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.10 0.40 7.10 -2.60 1994 - 2018 percent Quarterly




Country Last Previous
India 7.10 Sep/18
China 6.40 Dec/18
Indonesia 5.17 Sep/18
South Korea 3.10 Dec/18
United States 3.00 Sep/18
Australia 2.80 Sep/18
Mexico 2.50 Sep/18
Saudi Arabia 2.50 Sep/18
Netherlands 2.40 Sep/18
Spain 2.40 Sep/18
Switzerland 2.40 Sep/18
Singapore 2.20 Dec/18
Canada 2.10 Sep/18
Euro Area 1.60 Sep/18
Turkey 1.60 Sep/18
Russia 1.50 Sep/18
United Kingdom 1.50 Sep/18
France 1.40 Sep/18
Brazil 1.30 Sep/18
Germany 1.10 Sep/18
South Africa 1.10 Sep/18
Italy 0.70 Sep/18
Japan 0.00 Sep/18
Argentina -3.50 Sep/18


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