South Africa's economy shrank by 4.1 percent year-on-year in the fourth quarter of 2020, easing from an upwardly revised 16.2 percent slump in the July-September period and compared with market expectations of a 4.6 percent contraction. In 2020, the GDP plummeted by 7%, the biggest annual decline since 1946. source: Statistics South Africa
GDP Annual Growth Rate in South Africa averaged 2.30 percent from 1994 until 2020, reaching an all time high of 7.10 percent in the fourth quarter of 2006 and a record low of -17.50 percent in the second quarter of 2020. 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 May of 2021.
GDP Annual Growth Rate in South Africa is expected to be 15.00 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 2.60 in 12 months time. In the long-term, the South Africa GDP Annual Growth Rate is projected to trend around 2.00 percent in 2022 and 2.50 percent in 2023, according to our econometric models.