Markets Actual Q2 Q3 Q4 Q1 2021
Currency 16.92 17.2 17.38 17.56 17.75 18.12
Government Bond 10Y (%) 8.74 8.76 8.86 8.96 9.06 9.27
Stock Market (points) 53204.79 52503 51387 50292 49220 47074

Overview Actual Q2 Q3 Q4 Q1 2021
GDP Growth Rate (%) -1.40 -5.8 -4.7 -5 0.3 1.8
GDP Annual Growth Rate (%) -0.50 -4.5 -5.3 -7 -2.8 3.8
Unemployment Rate (%) 29.10 37.5 38.6 37 36.7 35
Inflation Rate (%) 4.10 2.8 2.9 3.7 4 4.4
Inflation Rate Mom (%) 0.30 0.4 0.3 0.3 0.2 0.3
Interest Rate (%) 3.75 3.75 3.5 3.25 3 4
Balance of Trade (ZAR Million) -35015.11 -9300 -2000 -1258 12000 -1542
Current Account (ZAR Million) -68069.00 -275000 -185000 -120000 -150000 -135000
Current Account to GDP (%) -3.00 -6.7 -6.7 -6.7 -4.3 -4.3
Government Debt to GDP (%) 62.20 70 70 70 74 74
Government Budget (% of GDP) -6.30 -10 -10 -10 -7 -7
Business Confidence (points) 18.00 13 10 8 12 16
Manufacturing PMI (points) 50.20 50.4 44 47 48 49
Consumer Confidence (points) -9.00 -15 -18 -20 -13 4
Retail Sales MoM (%) -0.40 0.6 0.4 -2.7 1.3 -2.4
Corporate Tax Rate (%) 28.00 28 28 28 28 28
Personal Income Tax Rate (%) 45.00 45 45 45 45 45

GDP Actual Q2 Q3 Q4 Q1 2021
GDP Growth Rate (%) -1.40 -5.8 -4.7 -5 0.3 1.8
GDP Annual Growth Rate (%) -0.50 -4.5 -5.3 -7 -2.8 3.8
GDP (USD Billion) 350.00 380 380 380 412 412
GDP Constant Prices (ZAR Million) 3142811.30 3084611 3070022 2922815 3054813 3033881
Gross National Product (ZAR Million) 3155933.00 3071111 3040046 2935018 3067567 3046548
Gross Fixed Capital Formation (ZAR Million) 597190.00 593202 597378 555387 580469 576491
GDP per capita (USD) 7433.60 7550 7550 7550 7565 7565
GDP per capita PPP (USD) 12143.47 11791 11791 12395 11791 11974
GDP From Agriculture (ZAR Million) 67423.54 68122 67228 62704 65536 65087
GDP From Construction (ZAR Million) 101881.74 104088 102953 94750 99029 98351
GDP From Manufacturing (ZAR Million) 380805.12 378245 372965 354149 370143 367606
GDP From Mining (ZAR Million) 227400.35 224773 220363 211482 221033 219519
GDP From Public Administration (ZAR Million) 488670.67 475010 475853 454464 474988 471733
GDP From Services (ZAR Million) 661316.99 639549 639497 615025 642800 638396
GDP From Transport (ZAR Million) 266439.80 269087 264295 247789 258979 257205
GDP From Utilities (ZAR Million) 63851.66 63848 62800 59382 62064 61639

Labour Actual Q2 Q3 Q4 Q1 2021
Unemployment Rate (%) 29.10 37.5 38.6 37 36.7 35
Employed Persons 10213000.00 10350000 10280000 10251000 10251000 10300000
Unemployed Persons (Thousand ) 6700.00 7400 6500 6500 6500 6430
Labor Force Participation Rate (%) 59.80 59.4 59.1 59 59 60.4
Wages (ZAR/Month) 22500.00 21000 21000 21600 21600 21600
Wages in Manufacturing (ZAR/Month) 19377.00 18500 18500 19000 19000 19000
Population (Million) 58.80 59.83 59.83 59.83 60.88 60.88
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 60.00 60 60 60 60 60
Minimum Wages (ZAR/Hour) 20.76 20.76 20.76 20.76 21.5 21.5
Living Wage Family (ZAR/Month) 11300.00 10500 10500 10630 10630 10630
Living Wage Individual (ZAR/Month) 6570.00 6630 6630 6700 6700 6700
Youth Unemployment Rate (%) 58.10 53.8 53.4 58 58 57.2
Wages High Skilled (ZAR/Month) 22600.00 22100 22100 23200 23200 23200
Employment Rate (%) 42.40 43 43 43.3 43.3 44.2

Prices Actual Q2 Q3 Q4 Q1 2021
Inflation Rate (%) 4.10 2.8 2.9 3.7 4 4.4
Inflation Rate Mom (%) 0.30 0.4 0.3 0.3 0.2 0.3
Consumer Price Index CPI (points) 115.60 116 117 118 120 123
Core Consumer Prices (points) 115.10 116 116 117 119 121
Core Inflation Rate (%) 3.70 3.5 3.3 3.5 3.7 3.8
Producer Prices (points) 115.20 119 119 119 120 124
Producer Prices Change (%) 3.30 4.2 4.2 4 3.8 4.3
Food Inflation (%) 4.40 3.8 3.6 3.4 3.2 3.5
Inflation Expectations (Percent) 4.63 5.66 5.63 5.63 5.63 5.63
CPI Housing Utilities (points) 115.60 114 118 119 120 125
CPI Transportation (points) 115.50 120 118 121 120 126

Money Actual Q2 Q3 Q4 Q1 2021
Interest Rate (%) 3.75 3.75 3.5 3.25 3 4
Interbank Rate (%) 3.98 4.6 4.6 4.6 4.35 5.35
Money Supply M0 (ZAR Million) 276080.00 273000 273000 273000 273000 284333
Money Supply M1 (ZAR Million) 2063577.00 1769000 1769000 1769000 1769000 1768608
Money Supply M2 (ZAR Million) 3317977.00 2938000 2938000 2938000 2938000 2941486
Money Supply M3 (ZAR Million) 4072977.00 3715000 3715000 3715000 3715000 3883648
Banks Balance Sheet (ZAR Million) 6619177.00 5730000 6040000 6000000 6000000 6565085
Foreign Exchange Reserves (USD Million) 53003.00 47000 52000 52500 50300 53000
Deposit Interest Rate (%) 6.14 6.72 6.72 6.72 6.47 7.47
Central Bank Balance Sheet (ZAR Million) 1066023.00 791000 860000 950000 950000 965000

Trade Actual Q2 Q3 Q4 Q1 2021
Balance of Trade (ZAR Million) -35015.11 -9300 -2000 -1258 12000 -1542
Current Account (ZAR Million) -68069.00 -275000 -185000 -120000 -150000 -135000
Current Account to GDP (%) -3.00 -6.7 -6.7 -6.7 -4.3 -4.3
Imports (ZAR Million) 88031.16 75000 80000 82000 90000 86000
Exports (ZAR Million) 53016.05 65700 78000 92000 102000 104000
External Debt (USD Million) 185236.00 174000 179000 175600 175600 180000
Tourist Arrivals 1218468.00 1180000 1320000 1315000 1315000 1400000
Foreign Direct Investment (ZAR Billion) 10528.00 15000 13200 2300 12000 6800

Government Actual Q2 Q3 Q4 Q1 2021
Government Debt to GDP (%) 62.20 70 70 70 74 74
Government Budget (% of GDP) -6.30 -10 -10 -10 -7 -7
Government Budget Value (ZAR Million) -85315.00 39000 -5000 20500 20500 21000
Government Spending (ZAR Million) 653065.00 636529 635925 607350 634779 630430
Government Revenues (ZAR Million) 61883.00 149000 125000 165000 165000 167000
Government Debt (USD Million) 77987.00 83500 83000 84500 84000 86000
Fiscal Expenditure (ZAR Million) 147198.00 110000 130000 144500 144500 146000
Military Expenditure (USD Million) 3449.00 3250 3250 3250 3250 3050

Taxes Actual Q2 Q3 Q4 Q1 2021
Corporate Tax Rate (%) 28.00 28 28 28 28 28
Personal Income Tax Rate (%) 45.00 45 45 45 45 45
Sales Tax Rate (%) 15.00 15 15 15 15 15
Social Security Rate (%) 2.00 2 2 2 2 2
Social Security Rate For Companies (%) 1.00 2 2 2 2 2
Social Security Rate For Employees (%) 1.00 1 1 1 1 1

Business Actual Q2 Q3 Q4 Q1 2021
Business Confidence (points) 18.00 13 10 8 12 16
Manufacturing PMI (points) 50.20 50.4 44 47 48 49
Industrial Production (%) -2.10 1.6 2 1.5 1.5 1.3
Industrial Production Mom (%) -2.30 2.2 -1.8 0.5 -1.4 0.6
Capacity Utilization (%) 79.90 81 81 81.3 81.3 81.4
Bankruptcies (Companies) 0.00 170 183 180 180 220
Total Vehicle Sales 12932.00 44300 49000 43000 47400 45500
Car Registrations 105.00 28400 30650 26380 26380 28600
Leading Economic Index (%) 0.70 -0.2 0.3 0.2 0.3 0.3
Mining Production (%) 7.00 -3 0.4 1.1 1.1 1.4
Coincident Index (points) 77.80 72 92 91.4 90.7 91.7
Composite Pmi (points) 32.50 40 45 47 48.1 49
Electricity Production (Gigawatt-hour) 20093.00 21940 20730 20050 20050 21670
Gold Production (%) 11.50 -10 -14 -13 -13 -15

Consumer Actual Q2 Q3 Q4 Q1 2021
Consumer Confidence (points) -9.00 -15 -18 -20 -13 4
Retail Sales MoM (%) -0.40 0.6 0.4 -2.7 1.3 -2.4
Retail Sales YoY (%) 2.00 -3 0.9 0.6 1.2 2
Consumer Spending (ZAR Million) 1966371.00 1915978 1909083 1828725 1911313 1898217
Disposable Personal Income (ZAR Million) 3110292.00 2968897 2986980 2892572 3023204 3002489
Personal Savings (%) -0.20 0.6 0.6 0.4 0.4 0.6
Private Sector Credit (%) 7.37 5.7 6 5.7 6.1 6.1
Bank Lending Rate (%) 7.25 7.25 7 10.5 6.5 10
Households Debt To GDP (% of GDP) 34.30 33 33 36 36 36
Households Debt To Income (%) 72.80 69 69 69 69 70
Gasoline Prices (USD/Liter) 0.70 0.86 0.81 0.77 0.73 0.7

Housing Actual Q2 Q3 Q4 Q1 2021
Building Permits (ZAR Thousand) 8508676.00 7500000 6700000 5600000 6400000 6000000


This page has economic forecasts for South Africa including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the South Africa economy.