The South African economy advanced a seasonally adjusted annualized 1.4 percent on quarter in the three months to December of 2018, following an upwardly revised 2.6 percent growth in the previous period and missing market expectations of a 1.8 percent expansion. Manufacturing and agriculture grew less and contractions were primarily recorded in internal trade, public administration and mining. GDP Growth Rate in South Africa averaged 2.77 percent from 1993 until 2018, reaching an all time high of 7.60 percent in the fourth quarter of 1994 and a record low of -6.10 percent in the first quarter of 2009.

GDP Growth Rate in South Africa is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in South Africa to stand at 1.70 in 12 months time. In the long-term, the South Africa GDP Growth Rate is projected to trend around 2.20 percent in 2020, according to our econometric models.

South Africa GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-06-05 09:30 AM GDP Growth Rate QoQ -2.2% 3.1% -0.5% 1.0%
2018-09-04 09:30 AM GDP Growth Rate QoQ -0.7% -2.6% 0.6% -0.8%
2018-12-04 09:30 AM GDP Growth Rate QoQ 2.2% -0.4% 1.6% 0.5%
2019-03-05 09:30 AM GDP Growth Rate QoQ 1.4% 2.6% 1.6% 1.6%
2019-06-04 09:30 AM GDP Growth Rate QoQ 1.4% 1.1%
2019-09-03 09:30 AM GDP Growth Rate QoQ 1.3%
2019-12-03 09:30 AM GDP Growth Rate QoQ 1.5%



South Africa GDP Growth Weakens to 1.4% QoQ in Q4

The South African economy advanced a seasonally adjusted annualized 1.4 percent on quarter in the three months to December of 2018, following an upwardly revised 2.6 percent growth in the previous period and missing market expectations of a 1.8 percent expansion. Manufacturing and agriculture grew less and contractions were primarily recorded in internal trade, public administration and mining.

Manufacturing grew 4.5 percent, slowing from a 7.5 percent expansion, driven by production of petroleum, chemical products, rubber and plastic products, motor vehicles, parts and accessories and other transport equipment, and food and beverages.

The agriculture, forestry and fishing sector rose 7.9 percent, after rising 13.7 percent in the third quarter. The increase was supported by higher production of field crops.

The electricity, gas and water industry grew 0.2 percent compared to a 0.8 percent rise in the previous period, largely due to an increase in electricity consumed and water distributed.

Meantime, contractions were seen in trade, catering & accommodation (-0.7 percent vs 3.4 percent); government services (-0.6 percent vs 1.9 percent), owing to a decrease in employment; and mining & quarrying (-3.8 percent vs -8.9 percent), amid lower production in mining of gold and ‘other’ mining and quarrying (including diamonds). Also, the construction sector shrank (-0.7 percent vs -1.7 percent), with decreases reported for residential buildings, non-residential buildings and construction works.

Conversely, transport, storage & communications (7.7 percent vs 6.8 percent); finance, insurance and business services (2.7 percent vs 2.1 percent) and personal services (1.7 percent vs 0.6 percent) grew at a faster pace.

Year-on-year, the economy advanced 1.1 percent in the fourth quarter of 2018, after an upwardly revised 1.3 percent growth in the prior period and compared with market consensus of a 0.6 percent advance

Considering full 2018, the GDP advanced 0.8 percent, far below an upwardly revised 1.4 percent in 2017. Slower expansions were observed in finance, insurance and business services (1.8 percent vs 2.1 percent) and personal services (1.0 percent vs 1.3 percent). Additionally, contractions were recorded in agriculture (-4.8 percent vs 21.1 percent); mining (-1.7 percent vs 4.2 percent) and construction (-1.2 percent vs -0.6 percent). On the other hand, manufacturing rebounded (1 percent vs -0.2 percent).


Statistics South Africa | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
3/5/2019 1:31:37 PM



South Africa GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.40 2.60 7.60 -6.10 percent [+]
GDP Annual Growth Rate 1.10 1.30 7.10 -2.60 percent [+]
GDP 349.42 295.76 416.88 7.58 USD Billion [+]
GDP Constant Prices 3161721.00 3150985.20 3161721.00 565040.00 ZAR Million [+]
Gross National Product 3096702.00 3099991.00 3129892.00 504385.00 ZAR Million [+]
Gross Fixed Capital Formation 604716.90 608540.10 644549.00 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 73759.84 72378.48 89120.92 33530.55 ZAR Million [+]
GDP From Construction 107396.44 107574.93 110107.16 14702.00 ZAR Million [+]
GDP From Manufacturing 393954.72 389629.35 393954.72 228221.00 ZAR Million [+]
GDP From Mining 227291.33 229490.48 251119.50 214553.50 ZAR Million [+]
GDP From Public Administration 479333.04 480100.05 480100.05 90907.00 ZAR Million [+]
GDP From Services 645928.42 647524.22 647524.22 66256.00 ZAR Million [+]
GDP From Transport 278622.84 273485.01 278622.84 89068.60 ZAR Million [+]
GDP From Utilities 66047.02 66013.98 70556.22 46746.92 ZAR Million [+]


South Africa GDP 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 Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.40 2.60 7.60 -6.10 1993 - 2018 percent Quarterly




Country Last Previous
United States 2.60 Dec/18
Saudi Arabia 1.60 Sep/18
China 1.50 Dec/18
India 1.50 Sep/18
Singapore 1.40 Dec/18
South Africa 1.40 Dec/18
South Korea 1.00 Dec/18
Spain 0.70 Dec/18
Japan 0.50 Dec/18
Netherlands 0.50 Dec/18
France 0.30 Dec/18
Russia 0.30 Sep/18
Australia 0.20 Dec/18
Euro Area 0.20 Dec/18
Mexico 0.20 Dec/18
Switzerland 0.20 Dec/18
United Kingdom 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Germany 0.00 Dec/18
Italy -0.10 Dec/18
Argentina -1.20 Dec/18
Indonesia -1.69 Dec/18
Turkey -2.40 Dec/18


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