The South African economy showed no growth in the first quarter of 2019, after expanding 1.1 percent in the prior period and missing market expectations of a 0.7 percent growth. Slower rises were seen in manufacturing, transport & storage, finance and government services. In addition, agriculture, mining, construction, utilities and trade posted contractions. GDP Annual Growth Rate in South Africa averaged 2.73 percent from 1994 until 2019, 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 0.40 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 0.90 in 12 months time. In the long-term, the South Africa GDP Annual Growth Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.

South Africa GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-04 09:30 AM GDP Growth Rate YoY Q2 0.4% 0.8% 1% 1.3%
2018-12-04 09:30 AM GDP Growth Rate YoY Q3 1.1% 0.4% 0.5% 0.6%
2019-03-05 09:30 AM GDP Growth Rate YoY Q4 1.1% 1.3% 0.6% 0.7%
2019-06-04 09:30 AM GDP Growth Rate YoY Q1 0% 1.1% 0.7% 0.5%
2019-09-03 09:30 AM GDP Growth Rate YoY Q2 0% 0.3%
2019-12-03 09:30 AM GDP Growth Rate YoY Q3 0.8%



South Africa GDP Annual Growth Stalls in Q1

The South African economy showed no growth in the first quarter of 2019, after expanding 1.1 percent in the prior period and missing market expectations of a 0.7 percent growth. Slower rises were seen in manufacturing, transport & storage, finance and public administration. In addition, agriculture, mining, construction, utilities and trade posted contractions.

Softer growth was recorded in manufacturing (0.6 percent vs 1.3 percent in Q4); transport & storage (1.1 percent vs 2.4 percent); finance, real estate and business services (2.4 percent vs 3.1 percent) and government services (0.7 percent vs 1.0 percent).

At the same time, contractions were seen in agriculture (-9.4 percent vs -0.6 percent); mining (-4.6 percent vs -3.4 percent); electricity, gas and water (-1.1 percent vs 1.1 percent); construction (-2.9 percent vs -1.1 percent); trade, catering and accommodation (-0.6 percent vs 0.3 percent).

On a seasonally adjusted quarterly basis, the economy shrank 3.2 percent on quarter in the three months to March of 2019, after growing 1.4 percent in the previous period and more than an expected 1.7 percent decline. The contraction was mainly caused by Eskom's blackouts whose adverse effects were spread across sectors.

The central bank recently cut the country's 2019 GDP growth outlook to 1.0 percent from previous 1.3 percent. The government sees the economy expanding 1.5 percent in 2019.


Statistics South Africa | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
6/4/2019 1:37:31 PM


News

South Africa GDP Annual Growth Slows Less than Expected
The South African economy expanded 1.1 percent year-on-year in the fourth quarter of 2018, after an upwardly revised 1.3 percent growth in the prior period while markets had expected it to advance 0.6 percent. Slower growth was seen in internal trade, utilities and public administration while the agricultural sector shrank.
Published on 2019-03-05

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.
Published on 2018-12-05

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.
Published on 2018-09-04

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 Last Previous Highest Lowest Unit
GDP Growth Rate -3.20 1.40 7.60 -6.10 percent [+]
GDP Annual Growth Rate 0.00 1.10 7.10 -2.60 percent [+]
GDP 366.30 348.87 416.42 7.58 USD Billion [+]
GDP Constant Prices 3133613.50 3160551.30 3160551.30 565040.00 ZAR Million [+]
Gross National Product 3109703.00 3096702.00 3129892.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 597800.80 604716.90 644549.00 73065.00 ZAR Million [+]
GDP per capita 7432.90 7487.90 7582.70 4624.10 USD [+]
GDP per capita PPP 12143.47 12233.37 12388.26 9014.28 USD [+]
GDP From Agriculture 71198.35 73759.84 89120.92 33530.55 ZAR Million [+]
GDP From Construction 106790.38 107396.44 110107.16 14702.00 ZAR Million [+]
GDP From Manufacturing 384990.99 393954.72 393954.72 228221.00 ZAR Million [+]
GDP From Mining 220907.55 227291.33 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 480794.59 479333.04 480794.59 90907.00 ZAR Million [+]
GDP From Services 647668.90 645928.42 647668.90 66256.00 ZAR Million [+]
GDP From Transport 275505.11 278622.84 278622.84 89068.60 ZAR Million [+]
GDP From Utilities 64870.47 66047.02 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 July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.00 1.10 7.10 -2.60 1994 - 2019 percent Quarterly




Country Last Previous
China 6.20 Jun/19
India 5.80 Mar/19
Indonesia 5.07 Mar/19
United States 3.20 Mar/19
Spain 2.40 Mar/19
Australia 1.80 Mar/19
United Kingdom 1.80 Mar/19
Netherlands 1.70 Mar/19
Saudi Arabia 1.70 Mar/19
South Korea 1.70 Mar/19
Switzerland 1.70 Mar/19
Canada 1.30 Mar/19
Euro Area 1.20 Mar/19
France 1.20 Mar/19
Mexico 1.20 Mar/19
Japan 0.90 Mar/19
Germany 0.70 Mar/19
Brazil 0.50 Mar/19
Russia 0.50 Mar/19
Singapore 0.10 Jun/19
South Africa 0.00 Mar/19
Italy -0.10 Mar/19
Turkey -2.60 Mar/19
Argentina -5.80 Mar/19


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