Agriculture includes farming, fishing, and forestry. South Africa’s GDP growth for 2018 crawls to 0.8%, South Africa’s economic growth seen stagnant, A new type of lending is becoming popular in South Africa’s property market, How many South Africans now rely on social grants: 1996 vs 2020, Meetings to decide on lockdown restrictions for South Africa: Ramaphosa, Government warned about ‘huge’ Covid-19 vaccine theft: report, Save on your car insurance today – Or get R500 cash, Get a new mobile app for your company in 2021, Get super-fast home broadband for R199 per month, The biggest business website in South Africa, South Africa to look at stricter alcohol laws – here’s what you should know, Expect a big drop in living standards in South Africa: World Bank, 2021 presents digital opportunities for businesses, Here are new car tech features that will help keep you safe on the road, Land expropriation set to be approved in South Africa in 2021: ANC, One of the world’s most valuable and controversial banknotes has been revamped, South Africa's massively reduced critical skills list threatens to expel expats and foreign workers. In contrast, the trade, catering and accommodation industry decreased by 0.7%. … This 2.2% has been revised upwards to 2.6%. Farming remains vitally important to the economy. Increased economic activity was reported for financial intermediation, insurance, auxiliary activities and real estate. *The Africa (30) average was 16.5% in both 2017 and 2018 due to rounding. Unadjusted real GDP in the fourth quarter was up by 1,1% year-on-year. Mining, manufacturing, building, electricity, liquidations. FRED: Download, graph, and track economic data. GDP growth (annual %) - South Africa. The latest set of gross domestic product (GDP) figures released by Stats SA provides an overview of economic performance in 2018. Gauteng comprises one third of South Africa’s GDP, with 34%. Nigeria. South Africa is an upper-middle-income economy, one of only eight such countries in Africa. Both industries recorded negative growth in the third and fourth quarters of 2018. South Africa’s gross domestic product (GDP) increased at a better than expected rate in 2017, with the agricultural sector playing a leading role in this regard. The statistic shows gross domestic product (GDP) per capita in South Africa from 1985 to 2019, with projections up until 2025. Contribution of travel and tourism to GDP (% of GDP) of South Africa increased from 7.1 % in 2000 to 8.7 % in 2019 growing at an average annual rate of 1.21%. The growth of the tourism sector has been a boon for South Africa’s economy. Read more. In 2018, the growth rate for the world GDP was 3.6%. Despite the recession, positive growth in the third (2,6%) and the fourth (1,4%) quarters was just enough to push overall growth for the year into positive territory, with the real annual growth rate coming in at 0,8%. In the fourth quarter of 2018, GDP output was up 1.4% from the third quarter, and up 1.1% from the fourth quarter of 2017. The second largest contributor to positive growth was government, which expanded by 1,3%. Cover and foreword [PDF] 17 276 kb 1 All quarterly growth rates mentioned are quarter-on-quarter, seasonally adjusted and annualised, and in real (volume) terms. According to Statistics SA, the local economy grew 1,3% in 2017, exceeding National Treasury’s expectation of 1% growth announced during the National Budget Speech in February. According to the World Travel and Tourism Council, the 2018 contribution of the tourism sector in South Africa, directly accounted for 2.8% of real gross domestic product (GDP), which amounts to R139 billion and this was projected to grow to R145,3 billion for 2019. South Africa has a quarterly GDP per capita, of $1,103, less than the same period last year, when it … Economy | December 24th 2020 New Covid-19 variant poses higher risks to South Africa The local mutation, dubbed 501.V2, is not the same as the UK’s new variant, which is … The divisions that made the largest contributions to the increase were petroleum, chemical products, rubber and plastic products; motor vehicles, parts and accessories and other transport equipment; and food and beverages, Stats SA said. Stats SA is in the process of updating its database of all users. Consumer price index (CPI), Producer price index (PPI), Government finance: national and provincial government, Supply and use tables, Satellite accounts, Regional GDP, Gross domestic product (GDP), expenditure. Gross domestic product (GDP) growth is projected to gather pace, increasing from 1.3 percent in 2017 to 1.4 percent in 2018, 1.8 percent in 2019, and 1.9 percent in 2020. South Africa GDP (Gross Domestic Product) was INT$676.30billion for 2019 in PPP terms. Nominal GDP vs. PPP GDP The description is composed by our digital data assistant. The South African economy grew by 0,8% in 2018 compared with 2017. forestry). World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2019, building on the lifetimes work of Angus Maddison. The statistic shows gross domestic product (GDP) per capita in South Africa from 1985 to 2019, with projections up until 2025. The World Bank projects 2019 growth at 1.3%, accelerating further to 1.7% in 2020. South African President Cyril Ramaphosa looks on during the BRICS Summit in Johannesburg, South...[+] Africa, Thursday, July 26, 2018. South Africa G20 average GREENHOUSE GAS (GHG) EMISSIONS (INCL. “We have some way to go before we recover all the lost GDP,” says Mhlanga. Financial services is the largest domestic sector, accounting for around 20% of South African GDP, followed by manufacturing (12%) and basic materials (10%). The manufacturing industry expanded by 4.5%. The figure of … For a monthly overview of economic indicators and infographics, catch the latest edition of the Stats Biz newsletter here. By 2018 this increased to 61.61%. Political infighting among South Africa’s ruling party and the volatility of the rand risks economic growth. $) Share in 2019 (%) Rank PPP/Nom; 2018 2019 Change Africa World Africa World; Somalia: 12.088: 12.660: 0.572: 0.177 If this is true, South Africa's GDP will have to grow at 8% a year. South Africa is the 35th largest economy in the world (measured by current GDP). Given population growth, gross domestic product (GDP) per capita growth has been close … South Africa's GDP for the 4th quarter came in at 1.4% quarter on quarter annualised, down from the preliminary Q3:2018 GDP that came in at 2.6%. Agriculture. South Africa GDP Q3 2018. FRED: Download, graph, and track economic data. Trade (% of GDP) - South Africa. ‘Basic materials’ includes mining (7% of GDP) and agriculture (3%). Ethiopia is one of the most influential African countries particularly in … South Africa gdp per capita for 2018 was $6,374, a 3.94% increase from 2017. So the 1.4% quarter on quarter is pretty strong considering its 1.4% on a stronger revised Q3:2018. South Africa: PMI edges down in November amid weaker demand dynamics. - … Gold, copper and iron ore were the biggest drags on production in 2018, according to Stats SA’s Mining: Production and sales release. GDP per capita (current US$) - South Africa from The World Bank: Data Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). The 2018 recession spanned the first two quarters of the year, with the economy shrinking by 2,7% in the first quarter and contracting further by 0,5% in the second. Nominal Gross Domestic Product in the fourth quarter was estimated at R1,21 trillion (for … South Africa gdp for 2018 was $778.20B, a 0.41% increase from 2018. Stats SA has published its latest GDP data, showing that South Africa’s economy grew at o.8% in 2018, slightly beating estimates. South Africa found itself in economic recession in 2018, its second since the early 1990s. South Africa’s economy grew by 1.4% in the fourth quarter of 2018, Statistics South Africa (Stats SA) announced on Tuesday morning. Expenditure on GDP grew by 0,7% in 2018 compared with 2017. The fall was mainly due to skill shortages, health sector challenges, weak domestic product competition, and limited information and communication technology adoption. General government services decreased by 0.6%. This statistic shows the gross domestic product (GDP) in South Africa from 1984 to 2019, with a projection up until 2021. Retail, wholesale, motor, food & beverages, tourist accommodation, Structural industry statistics (large sample surveys of industries, Population Statistics (Census and Community Survey), Labour Statistics- Quarterly Labour Force Survey (QLFS), Tourism Statistics (Domestic Tourism Survey), Crime and Safety Statistics (Victims of Crime Survey), Service Delivery Statistics (General Household Survey), Transport Statistics (National Travel Survey). Similar articles are available on the Stats SA website and can be accessed here. Real GDP was up 3,1% quarter-on-quarter (seasonally adjusted and annualised). Over the last 9 years, GDP in South Africa was decreasing on average by 0.35% each year, although before that, it grew from 115.75 billion US dollars in 2002 to 416.88 billion US dollars in 2011. Gross Domestic Product. These two industries contributed 0,4 and 0,2 of a percentage point to the overall growth. The economy of South Africa is the third largest in Africa. Nominal GDP in the fourth quarter was estimated at R1,26 trillion. In 2018, the nominal world GDP was $84,835.46 billion in 2018, and it’s projected to be $88,081.13 billion in 2019. Given population growth, gross domestic product (GDP) per capita growth has been close to … Kindly participate in this short survey and provide your details. Key facts from the GDP release for the fourth quarter 2018: For more information, download the latest GDP report and media presentation here. In 1994 household spending made up 54.2% of South Africa's total GDP. GDP Growth Rate in 2017 was 1.32%, representing a change of 5,547,001,381 US$ over 2016, when Real GDP was $421,266,226,143. As of 2017, the GDP and GDP (PPP) per capita of South Africa were $312.80 billion and $13,200 respectively with a population of 54,956,920. The finance, real estate and business services industry was a strong supporter of overall growth in 2018, increasing by 1,8% during the year. Economists and analysts expected the country’s GDP figures to be around 0.6% and 0.7%. All details will be kept confidential and is for the use of Stats SA only. In 2019, GDP for South Africa was 351.35 billion US dollars. Following a technical recession in 2018, most forecasts were revised down from the 1.2%-1.5% range, as the economic realities set in despite upbeat talk around political change in the country. This emission pathway is not compatible with the Paris Agreement.1 Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Fiscal and debt risks will remain elevated, but trend downwards as growth recovers. For 2018, the estimate is R4,87 trillion. Stats SA has published its latest GDP data, showing that South Africa’s economy grew at o.8% in 2018, slightly beating estimates. Copper production tumbled by 28,5% in the same year, the biggest fall on record since 1981, the year Stats SA started publishing the current series of monthly mining data.2. Economic Forecast Summary (December 2020) An early and long lockdown to tackle the virus outbreak led to a significant decrease in economic activity in the first half of 2020. Third quarter data surprised on the upside, with the latest fourth quarter data showing the economy was bolstered by the communications and manufacturing industries. Without corrective measures, UBS analysts anticipate that South Africa's budget deficit could reach -5.4 to -5.6% of GDP, an overshoot of between 0.9 and 1.1 percentage points, based on … The transport, storage and communication industry increased by 7.7%, as a result of increases in land transport and transport support services. Mining decreased by 3.8% and contributed -0.3 of a percentage point to GDP growth, and construction decreased by 0.7%. 2. The distribution gives the percentage contribution of agriculture, industry, and services to total GDP, and will total 100 percent of GDP if the data are complete. Should South Africa increase the legal drinking age to 21. 29 economic data series with tags: South Africa, GDP, Quarterly. As per World Bank estimates, the nominal world GDP in 2017 was $80,683.79 billion. $54,683 million, South Africa is number 29 in the ranking of quarterly GDP of the 50 countries that we publish. South Africa gdp per capita for 2018 was $6,374, a 3.94% increase from 2017. Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. South Africa's economy grew by an annualized 66.1 percent in the third quarter of 2020, recovering from a record 51.7 percent slump in the April-June period and easily beating market expectations of 52.6 percent. Global distribution of gross domestic product (GDP) across economic sectors 2018 Global GDP in 2016, by economic sector Value of U.S. agricultural exports to South Africa 1990-2010 It is estimated that some 8.5 million … Find Out GDP (PPP) Country/Economy GDP (billions of Int. Decreased economic activity was reported in wholesale trade, motor trade and catering and accommodation. Equatorial Guinea. The South African economy grew by 1,3% in 2017 compared with 2016. So there has been a slow gradual increase in the relative importance of household spending in South Africa to the country's GDP. World Bank national accounts data, and OECD National Accounts data files. A slowdown in the production of field crops and horticultural products stunted growth in the first two quarters. Overview: In 2018 South Africa was the number 32 economy in the world in terms of GDP (current US$), the number 36 in total exports, the number 37 in total imports, the number 97 economy in terms of GDP per capita (current US$) and the number 59 most complex economy according to the Economic Complexity Index (ECI) Exports: The top exports of South Africa are Gold ($17.9B), Diamonds … GDP per Capita in South Africa (with a population of 57,009,756 people) was $7,487 in 2017, a decrease of $8 from $7,495 in 2016; this represents a change of-0.1% in GDP … South Africa Yearbook 2018/19 This publication is the official authoritative reference work on the Republic of South Africa and is updated annually. Unadjusted real total was up by 1,5% year-on-year. Industry includes mining, manufacturing, energy production, and construction. The South African economy grew by 1,4%1 in the fourth quarter of 2018, contributing to an overall growth rate of 0,8% for the entire year. The South African economy grew by 1.3% in 2017 and 0.8% in 2018. The third-quarter outcome is in line with where GDP was in the second quarter of 2018. In 2019, contribution of travel and tourism to GDP (% of GDP) for South Africa was 8.7 %. Agriculture, mining and construction all stumbled, however. Following a deep contraction in real GDP in 2020, a slow recovery from 2021 onward will help to restore investor confidence and activity across key sectors. Finance, real estate and business services increased by 2.7% in the fourth quarter. South Africa's economy is expected to recover from a poor start this year, rescued by stronger growth in the rest of the world, a Reuters poll found on Wednesday. The figure of … Economy Latest Trend Ranking; Composite leading indicator (CLI) Indicator 99.27 Amplitude adjusted Long-term average = 100 Oct-2020 South Africa Long-term average = 100 FDI stocks Indicator: 66.8 Outward % of GDP 2018 South Africa % of GDP Outward South Africa gdp for 2018 was $784.75B, a 0.84% increase from 2018. Business association Business for South Africa says GDP growth of 1% results in employment growth of 0.9%. December 3, 2020. South Africa’s political transition is known as one of the most remarkable political feats of the past century. GDP surged 66.1% at a seasonally-adjusted annualized rate (SAAR) in Q3, swinging from the 51.7% contraction seen in the second quarter and beating market analysts’ expectations of a 52.6% rise. Gold production fell by 14,5% in 2018, the biggest annual slump since 2008. Tax revenues: tax-to-GDP ratio South Africa's tax-to-GDP ratio in 2018 (29.1%) was higher than the average of the 30 African countries in Revenue Statistics in Africa 2020 (16.5%) by 6.0 percentage points and also higher than the Latin America and the Caribbean (23.1%). All industries recorded an increase in economic activity compared with the second quarter, with manufacturing, trade and mining leading the charge. Ethiopia – GDP: $80.9 Billion. Agriculture in particular had a difficult year, registering a contraction of 4,8%. Mining activity fell by 1,7%. Data Source: World Bank MLA Citation: Worryingly for South Africans is the fact that South Africa's Q1:2018 GDP growth that was initially reported as -2.2% is now calculated at -2.6%, basically saying the economy contracted even more during the first three months of 2018 than initially thought. South Africa’s GDP growth for 2018 crawls to 0.8% Staff Writer 5 March 2019 Stats SA has published its latest GDP data, showing that South Africa’s economy grew at o.8% in 2018, … In annual terms, economic activity dropped 6.0% in Q3, marking a softer contraction than the previous quarter’s 17.5% decline. South Africa … Real GDP in the fourth quarter was up 1,4% quarter-on-quarter (seasonally adjusted and annualised). The mining and construction industries are in recession. This in turn would contribute to a broader rebound among commodity exporters, emerging … KwaZulu Natal has the next-highest GDP with 14% of the total. South Africa gdp for 2018 was $784.75B, a 0.84% increase from 2018. South Africa GDP (Gross Domestic Product) was INT$676.30billion for 2019 in PPP terms. Download Historical Data Save as Image. South Africa’s economy rebounded in the third quarter of 2020 (July–September), coinciding with the easing of COVID-19 lockdown restrictions. GDP rallies as lockdown restrictions ease. South Africa Economic Snapshot. South Africa gdp for 2018 was $775.04B, a 0.58% decline from 2017. Definition: This entry shows where production takes place in an economy. World Bank national accounts data, and OECD National Accounts data files. Looked at historically, the dismal second-quarter performance meant South Africa’s GDP dropped to levels last recorded in the second quarter of 2007. 16 Soya costs and delivered prices in Gauteng Province, South Africa 27 17 Footprint of Shoprite and Pick n Pay, by country, 2016 28 Tables 1 Sectoral growth in Southern Africa, 2000–16 6 2 Sectoral GDP shares in Southern Africa, 2000–16 7 3 GDP composition by expenditure in Southern Africa, 2000–15 7 The ruling African National Congress (ANC) has been driving the policy agenda since 1994. 16 Soya costs and delivered prices in Gauteng Province, South Africa 27 17 Footprint of Shoprite and Pick n Pay, by country, 2016 28 Tables 1 Sectoral growth in Southern Africa, 2000–16 6 2 Sectoral GDP shares in Southern Africa, 2000–16 7 3 GDP composition by expenditure in Southern Africa, 2000–15 7 Comments section policy: Any attacks on BusinessTech, its journalists, or other readers will result in a ban. South Africa’s global competitiveness ranking declined sharply—to 67 of 140 countries in 2018 from 47 in 2016. Production slumped by 1,2%, the industry’s biggest annual fall since 1999, when activity fell by 1,4%. The World Bank projects 2019 growth at 1.3%, accelerating further to 1.7% in 2020. 2 Stats SA, Mining production stumbles in 2018 (read here). Expenditure on GDP in the fourth quarter grew by 1,6% quarter-on-quarter (seasonally adjusted and annualised), largely a result of household consumption expenditure and net exports. The South African economy grew by 1.3% in 2017 and 0.8% in 2018. Key facts and figures for South Africa’s GDP. South Africa gdp for … One of the smallest countries in the continent, the Central African country is the … 2 Real GDP growth rates in North Africa and other regions of Africa, 2008–19 5 3 Country contributions to overall real GDP growth in the North Africa region, 2016 and 2017 5 4 Monthly global commodity price indexes, January 2016–September 2017 6 5 Sector contribution to GDP growth in the North Africa region, 2008–16 9 So a slow down in consumer spending will start to affect South Africa's GDP more than it did say 24 years ago. South Africa’s economy has been hit by weeks of bad news – including disastrous growth of -3.2% in Q1 2019 and an unemployment rate of 29%. South Africa’s economy grew by 1.4% in the fourth quarter of 2018, Statistics South Africa (Stats SA) announced on Tuesday morning. December 4, 2018. Read: South Africa’s economic growth seen stagnant. How much of South Africa’s total GDP does each province make up? Having surpassed South Africa in 2016, the Nigerian economy is set to be the largest African economy in the near future. Gross Domestic Product. Real GDP in the fourth quarter was up 1,4% quarter-on-quarter (seasonally adjusted and annualised). FORESTRY) PER CAPITA (tCO 2e/capita) 1 SOUTH AFRICA Country Facts 2018 Source: CAT 2018 Based on implemented policies, South Africa’s GHG emissions are expected to increase to 658 MtCO 2e by 2030 (excl. Africa’s economy is projected to continue to rise to 3.2 percent in 2018 and to a further 3.5 in 2019, this is according to the latest World Bank report released early 2018. South Africa gdp per capita for … Measuring the progress of development in SA, Three facts about small business turnover in South Africa, Jobs in the SA formal sector up in the 3rd quarter of 2020, Consumer inflation dips slightly lower to 3,2%. As a manufacturing hub, it is the most industrialized, technologically advanced, and diversified economy on the African continent. International investors are concerned about the country’s long-term economic stability; in late 2016, most major international credit ratings agencies downgraded South Africa’s international debt to junk bond status. The industry has struggled to keep its head above water, experiencing its second consecutive year of economic decline in 2018. The South Africa IHS Markit Purchasing Managers’ Index (PMI) inched down to 50.3 in November from October’s 51.0, which had marked the best reading in over two-and-a-half years. Sadly for president Ramaphosa the economy he inherited from President Jacob Zuma and his corrupt Gupta friends and ministers has continued its decline and is now in a recession after Statistics South Africa released GDP numbers for Q2:2018 which came in at -0.7%, while the Q1:2018 GDP figures was revised downwards from -2.2% to -2.6% A substantial rebound is expected in the second half of the year, driven by high demand and favourable prices for South Africa’s exports. South Africa slipped into a technical recession on Tuesday, as figures for the second quarter of 2018 showed there was a decrease in Gross Domestic Product (GDP) for April, May and June. 29 economic data series with tags: South Africa, GDP, Quarterly. South Africa’s economy bounced back in the third quarter from a short-lived technical recession in the first half of the year, expanding in seasonally-adjusted and annualized (saar) terms. This is down from 1,4% in 2017 but up from 0,4% in 2016 (click on the chart to enlarge). The construction industry had its worst year in two decades in 2018, according to the GDP figures. KZN, Limpopo and the Eastern Cape score lowest with GDP per capita lower than R40,000, less than half that of Gauteng. 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. 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