South Africa GDP Annual Growth Rate

The South African economy expanded 0.4 percent year-on-year in the second quarter of 2018, slowing from a 0.8 percent growth in the previous period and below market expectations of a 1 percent expansion. It was the weakest growth rate since the first quarter of 2016 when the economy contracted 0.3 percent, as agriculture, forestry and fishing declined. GDP Annual Growth Rate in South Africa averaged 2.79 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.

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South Africa GDP Annual Growth Slows to 0.4% in Q2

The South African economy expanded 0.4 percent year-on-year in the second quarter of 2018, slowing from a 0.8 percent growth in the previous period and below market expectations of a 1 percent expansion. It was the weakest growth rate since the first quarter of 2016 when the economy contracted 0.3 percent, as production declined mainly for in agriculture, forestry and fishing activities.

Slower growth rates were recorded for trade, catering and accommodation (0.1 percent compared to 0.3 percent in Q1); finance, real estate and business services (1.8 percent compared to 2.1 percent); personal services (1.0 percent compared to 1.3 percent) while electricity, gas and water registered no growth (compared to 1.3 percent in Q1). Also, output dropped for transport, storage and communication (-0.2 percent compared to 1.8 percent) and fell further for agriculture (-5.8 percent compared to 3.2 percent) and construction (-1.1 percent compared to -0.7 percent).

Meanwhile, higher growth rates were seen in general government services (0.8 percent compared to 0.5 percent) and production of mining and quarrying declined less (-0.5 percent compared to -1.2 percent).

On a seasonally adjusted quarterly basis, the economy contracted 0.7 percent on quarter in the three months to June of 2018, following a 2.6 percent fall in the prior period and missing market consensus of a 0.6 percent growth. It was the second consecutive period of contraction, as the main contributors to the drop agriculture, transport and trade.

Statistics South Africa | Stefanie Moya | stefanie.moya@tradingeconomics.com
9/4/2018 10:31:00 AM

Recent Releases

South Africa GDP Growth Slows to 0.8% YoY in Q1
The South African economy grew 0.8 percent year-on-year in the first quarter of 2018, easing from a 1.5 percent expansion in the previous period and below market expectations of 1.9 percent. It was the weakest growth rate since the second quarter of 2016, mainly due to a contraction in agriculture, forestry and fishing activities and mining.
Published on 2018-06-05

South Africa GDP Grows 1.5% YoY, Strongest Since 2015
The South African economy advanced 1.5 percent year-on-year in the fourth quarter of 2017, above an upwardly revised 1.3 percent growth in the previous period and beating market expectations of 1.4 percent. It is the strongest expansion since the first quarter of 2015 supported by a rebound in manufacturing and utilities and strong growth in services.
Published on 2018-03-06

South Africa GDP Annual Growth Rate Down to 0.8% in Q3
The South African economy advanced 0.8 percent year-on-year in the third quarter of 2017, below an upwardly revised 1.3 percent expansion in the previous period which was the highest growth rate in two years. Still, figures matched market expectations. Mining rose faster while agriculture eased and manufacturing shrank for the fourth quarter.
Published on 2017-12-05

South Africa Annual GDP Growth at 2-Year High in Q2
The South African economy advanced 1.1 percent year-on-year in the second quarter of 2017, above 1 percent in the previous period and beating market expectations of 0.4 percent. It is the strongest annual growth rate in two years.
Published on 2017-09-05

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		0.4%		0.6%

South Africa GDP	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	-0.70	-2.60	7.60	-6.10	percent	[+]
GDP Annual Growth Rate	0.40	0.80	7.10	-2.60	percent	[+]
GDP	349.42	295.76	416.88	7.58	USD Billion	[+]
GDP Constant Prices	3132981.50	3140421.10	3161082.00	565040.00	ZAR Million	[+]
Gross National Product	3074870.00	3076397.00	3129523.00	504385.00	ZAR Million	[+]
Gross Fixed Capital Formation	615992.50	616799.90	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	70244.51	76566.90	84820.92	33530.55	ZAR Million	[+]
GDP From Construction	108776.67	108171.67	109909.36	14702.00	ZAR Million	[+]
GDP From Manufacturing	382563.62	382805.86	391090.40	228221.00	ZAR Million	[+]
GDP From Mining	231638.37	228868.92	251119.50	214553.50	ZAR Million	[+]
GDP From Public Administration	480320.97	480954.47	480954.47	90907.00	ZAR Million	[+]
GDP From Services	643923.33	640882.86	643923.33	66256.00	ZAR Million	[+]
GDP From Transport	267778.61	271183.77	271183.77	89068.60	ZAR Million	[+]
GDP From Utilities	65588.74	65252.14	70556.22	46746.92	ZAR Million	[+]

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 November of 2018.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	0.40	0.80	7.10	-2.60	1994 - 2018	percent	Quarterly

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Country	Last		Previous	Highest	Lowest
India	8.20	Jun/18	7.7	11.4	-5.2	%	Quarterly
China	6.50	Sep/18	6.7	15.4	3.8	%	Quarterly
Turkey	5.20	Jun/18	7.3	11.7	-14.4	%	Quarterly
Indonesia	5.17	Sep/18	5.27	7.16	1.56	%	Quarterly
Australia	3.40	Jun/18	3.2	9	-3.4	%	Quarterly
Switzerland	3.40	Jun/18	2.9	5.8	-3.7	%	Quarterly
United States	3.00	Sep/18	2.9	13.4	-3.9	%	Quarterly
Mexico	2.60	Sep/18	2.6	9	-9.1	%	Quarterly
Singapore	2.60	Sep/18	4.1	19	-8.8	%	Quarterly
Spain	2.50	Sep/18	2.5	5.6	-4.3	%	Quarterly
Netherlands	2.40	Sep/18	3.1	6.1	-4.6	%	Quarterly
South Korea	2.00	Sep/18	2.8	19.6	-7.4	%	Quarterly
Canada	1.90	Jun/18	2.3	9.3	-4.1	%	Quarterly
Euro Area	1.70	Sep/18	2.2	5	-5.5	%	Quarterly
Saudi Arabia	1.61	Jun/18	1.15	24.2	-20.7	%	Quarterly
France	1.50	Sep/18	1.7	12.6	-3.8	%	Quarterly
United Kingdom	1.50	Sep/18	1.2	9.7	-6.1	%	Quarterly
Russia	1.30	Sep/18	1.9	12.1	-11.2	%	Quarterly
Germany	1.10	Sep/18	2	7.2	-6.8	%	Quarterly
Brazil	1.00	Jun/18	1.2	10.1	-5.6	%	Quarterly
Italy	0.80	Sep/18	1.2	10.3	-7.2	%	Quarterly
South Africa	0.40	Jun/18	0.8	7.1	-2.6	%	Quarterly
Japan	0.30	Sep/18	1.4	9.4	-8.8	%	Quarterly
Argentina	-4.20	Jun/18	3.9	16.2	-16.3	%	Quarterly