The South African GDP declined 0.5% year-on-year in the fourth quarter of 2019, after expanding 0.1% in the previous period and compared with market expectations of a 0.1% drop. This was the steepest economic downturn since the fourth quarter of 2009. The impact of unprecedented power blackouts was reflected across sectors, namely utilities (-3.6% vs -2.4% in Q3); manufacturing (-2.6% vs -1.5%); mining (-1.% vs -0.7%); transport, storage & communication (-3.7% vs -1%) and construction (-4.6% vs -3.7%). Meanwhile, agricultural activity rebounded (2.1% vs -7.4%). On a quarterly basis, the economy shrank an annualized 1.4% in the three months to December of 2019, following an upwardly revised 0.8% contraction in the previous period and much worse than market expectations of a 0.1% decrease. The economy advanced by 0.2% in 2019, the least since the global financial crisis in 2009, and far below 0.8% a year ago.

GDP Annual Growth Rate in South Africa averaged 2.65 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. 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 - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Statistics South Africa

GDP Annual Growth Rate in South Africa is expected to be -4.50 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 -2.80 in 12 months time. In the long-term, the South Africa GDP Annual Growth Rate is projected to trend around 3.80 percent in 2021 and 2.90 percent in 2022, according to our econometric models.

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South Africa GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.50 0.10 7.10 -2.60 1994 - 2019 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-06-04 09:30 AM Q1 0% 1.1% 0.7% 0.5%
2019-09-03 09:30 AM Q2 0.9% 0% 0.8% 0.6%
2019-12-03 09:30 AM Q3 0.1% 0.9% 0.4% 0.5%
2020-03-03 09:30 AM Q4 -0.5% 0.1% -0.1% -0.2%
2020-06-30 09:30 AM Q1 -0.5% -2%
2020-09-08 09:30 AM Q2 -4.5%
2020-12-08 09:30 AM Q3 -5.3%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
South Africa GDP Contracts the Most since 2009
The South African GDP declined 0.5% year-on-year in the fourth quarter of 2019, after expanding 0.1% in the previous period and compared with market expectations of a 0.1% drop. This was the steepest economic downturn since the fourth quarter of 2009. The impact of unprecedented power blackouts was reflected across sectors, namely utilities (-3.6% vs -2.4% in Q3); manufacturing (-2.6% vs -1.5%); mining (-1.% vs -0.7%); transport, storage & communication (-3.7% vs -1%) and construction (-4.6% vs -3.7%). Meanwhile, agricultural activity rebounded (2.1% vs -7.4%). On a quarterly basis, the economy shrank an annualized 1.4% in the three months to December of 2019, following an upwardly revised 0.8% contraction in the previous period and much worse than market expectations of a 0.1% decrease. The economy advanced by 0.2% in 2019, the least since the global financial crisis in 2009, and far below 0.8% a year ago.
2020-03-03
South Africa Economy Barely Grows in Q3
The South African GDP advanced 0.1 percent year-on-year in the third quarter of 2019, after expanding 0.9 percent in the previous period and missing market expectations of a 0.4 percent growth. Further nationwide power blackouts hit primarily utilities, manufacturing, mining, agriculture and construction.
2019-12-03
South Africa GDP Grows 0.9% YoY in Q2
The South African economy expanded 0.9 percent year-on-year in the second quarter of 2019, after showing no growth in the previous period and beating market expectations of 0.8 percent. Service activities were the main drivers of GDP growth, while manufacturing expansion eased and output continued to contract for agriculture, mining, utilities and construction.
2019-09-03

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.