South Africa's economic growth slowed sharply to 0.2% year-on-year in the first quarter of 2023, down from a downwardly revised 0.8% in the previous three-month period. It was the weakest pace of expansion since a contraction was recorded in the first quarter of 2021, largely due to the adverse effects of record power cuts imposed by state power utility Eskom. source: Statistics South Africa

GDP Annual Growth Rate in South Africa averaged 2.42 percent from 1994 until 2023, reaching an all time high of 19.20 percent in the second quarter of 2021 and a record low of -16.20 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 August of 2023.

GDP Annual Growth Rate in South Africa is expected to be -0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa GDP Annual Growth Rate is projected to trend around 1.00 percent in 2024 and 1.10 percent in 2025, according to our econometric models.

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South Africa GDP Annual Growth Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-03-07 09:30 AM Q4 0.9% 4.2% 2.2% 1.4%
2023-06-06 09:30 AM Q1 0.2% 0.8% 0.2% 0.4%
2023-09-05 09:30 AM Q2 0.2% -0.6%


Related Last Previous Unit Reference
GDP Growth Rate 0.40 -1.10 percent Mar 2023
GDP Annual Growth Rate 0.20 0.80 percent Mar 2023
GDP Constant Prices 4596782.10 4577504.70 ZAR Million Mar 2023
GDP from Utilities 96569.51 97554.77 ZAR Million Mar 2023
GDP from Transport 379300.35 375173.44 ZAR Million Mar 2023
GDP from Services 1092750.50 1085695.91 ZAR Million Mar 2023
GDP from Public Administration 370102.85 369275.40 ZAR Million Mar 2023
GDP from Mining 200109.59 198273.30 ZAR Million Mar 2023
GDP from Manufacturing 524415.37 516486.38 ZAR Million Mar 2023
GDP from Construction 111869.68 110686.25 ZAR Million Mar 2023
GDP from Agriculture 127319.09 145175.12 ZAR Million Mar 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
0.20 0.80 19.20 -16.20 1994 - 2023 percent Quarterly
2015=100, NSA