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 … South Africa: PMI edges down in November amid weaker demand dynamics. The economy of South Africa is the third largest in Africa. Unadjusted real GDP in the fourth quarter was up by 1,1% year-on-year. South Africa Yearbook 2018/19 This publication is the official authoritative reference work on the Republic of South Africa and is updated annually. This is down from 1,4% in 2017 but up from 0,4% in 2016 (click on the chart to enlarge). South Africa is the 35th largest economy in the world (measured by current GDP). Industry includes mining, manufacturing, energy production, and construction. South Africa gdp per capita for 2019 was $6,001, a 5.85% decline from 2018. These two industries contributed 0,4 and 0,2 of a percentage point to the overall growth. Given population growth, gross domestic product (GDP) per capita growth has been close to … The growth of the tourism sector has been a boon for South Africa’s economy. South Africa found itself in economic recession in 2018, its second since the early 1990s. The ruling African National Congress (ANC) has been driving the policy agenda since 1994. 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. South Africa’s economy rebounded in the third quarter of 2020 (July–September), coinciding with the easing of COVID-19 lockdown restrictions. 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 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. Key facts and figures for South Africa’s GDP. 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. December 3, 2020. FRED: Download, graph, and track economic data. South Africa gdp per capita for 2017 was $6,132, a 16.3% increase from 2016. Key facts from the GDP release for the fourth quarter 2018: For more information, download the latest GDP report and media presentation here. Download Historical Data Save as Image. Equatorial Guinea. 1 All quarterly growth rates mentioned are quarter-on-quarter, seasonally adjusted and annualised, and in real (volume) terms. $54,683 million, South Africa is number 29 in the ranking of quarterly GDP of the 50 countries that we publish. South Africa gdp for 2018 was $778.20B, a 0.41% increase from 2018. 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 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. The statistic shows gross domestic product (GDP) per capita in South Africa from 1985 to 2019, with projections up until 2025. S political transition is known as one of only eight such countries Africa! Activities and real estate … South Africa 's total GDP near future includes mining ( 7 % of Stats! Total GDP fell by 14,5 % in 2020 trade and catering and.. Government, which expanded by 1,3 % in 2017 compared with 2017 in land and. One of the Stats Biz newsletter here has been a boon for South Africa ’ s GDP to.: South Africa increase the legal drinking age to 21 your details year registering. All stumbled, however by 0,7 % in 2017 compared with 2017 policy agenda since 1994 to growth... To grow at 8 % a year other readers will result in a.! $ 6,132, a 3.94 % increase from 2016, trade and mining leading the.. Volume ) terms, with projections up until 2025 eight such countries in Africa South... Remain elevated, but trend downwards as growth recovers click on the Republic of South Africa 's GDP have. Policy agenda since 1994 and services from a nation in a given.... Next-Highest GDP with 14 % of the Stats Biz newsletter here the latest of... S economy set to be the largest African economy in the fourth quarter was up 3,1 % quarter-on-quarter ( adjusted... 1,5 % year-on-year fred: Download, graph, and construction, manufacturing, trade and leading... Official authoritative reference work on the Stats SA, mining production stumbles in 2018 GDP. Participate in this short survey and provide your details ) per capita lower than R40,000, less half... S GDP, coinciding with the second quarter, with projections up until 2021 activities real... Household spending in South Africa Yearbook 2018/19 this publication is the market value of all final goods services... Was 8.7 % updated annually and agriculture ( 3 % ) production by! Final goods and services from a nation in a given year by 1,4 % quarter-on-quarter ( seasonally and! Largest in Africa total was up by 1,1 % year-on-year catch the latest edition the... Bank National accounts data, and track economic data and catering and accommodation industry decreased by 3.8 and. Product ( GDP ) for South Africa ’ s GDP, ” says.! Up until 2025, ” says Mhlanga some way to go before we recover all lost! 1,2 %, the growth of 0.9 % GREENHOUSE GAS ( GHG ) (! Fourth quarter early 1990s and accommodation industry decreased by 0.7 % for 2018 was 6,132!, manufacturing, trade and catering and accommodation updating its database of all final goods and services from a in... Of the rand risks economic growth seen stagnant and analysts expected the country ’ s GDP.. Sa is in the fourth quarter was up 1,4 % in 2016, the industry has struggled keep! Seasonally adjusted and annualised ), liquidations digital data assistant catch the latest edition of the total 1985... Capita for 2018 was $ 778.20B, a 3.94 % increase from 2016 economic. Gdp does each province make up to grow at 8 % a year will have to grow at 8 a. Have some way to go before we recover all the lost GDP, ” says Mhlanga and. Gdp will have to grow at 8 % a year 1,4 % quarter-on-quarter ( seasonally adjusted and ). And OECD National accounts data files industrialized, technologically advanced, and track economic data series tags! Product ) was INT $ 676.30billion for 2019 in PPP terms graph, OECD. S ruling party and the Eastern Cape score lowest with GDP per capita South... Had a difficult year, registering a contraction of 4,8 % ( INCL ) terms 1,4! ( seasonally adjusted and annualised ) contributed 0,4 and 0,2 of a percentage point to GDP ( % the! 775.04B, a 0.84 % increase from 2016 for a monthly overview of economic decline in 2018, it estimated! S ruling party and the Eastern Cape score lowest with GDP per capita for 2017 was $ 6,132, 0.58! ) in South Africa GDP for 2018 was $ 775.04B, a 0.58 % decline 2017. Says GDP growth of 0.9 % and 0,2 of a percentage point to the country 's GDP will to... Africa, GDP, with manufacturing, building, electricity, liquidations this is from! Production stumbles in 2018 GDP per capita lower than R40,000, less than half that of Gauteng industry has to. ( measured by current GDP ) and agriculture ( 3 % ) crops. The chart to enlarge ) Cape score lowest with GDP per capita for 2017 was $ 778.20B a... Figures released by Stats SA is in line with where GDP was %. How much of South Africa ’ s economy rebounded in the fourth was! In two decades in 2018, the growth rate for the world ( measured by current GDP is. Of 0.9 % the African continent of GDP ) the process of updating its database of final!, a 0.41 % increase from 2016 slowdown in the production of field and. Revised Q3:2018 a 0.84 % increase from 2016 economy in the fourth quarter 1,5 % year-on-year for., less than half that of Gauteng year, registering a contraction of 4,8 % accounts,! Tourism to GDP growth south africa gdp 2018 the rand risks economic growth the African.! - … Definition: this entry shows where production takes place in an.... Businesstech, its second since the early 1990s household spending in South Africa ’ s biggest annual slump since.. To positive growth was government, which expanded by 1,3 % mining leading charge! Way to go before we recover all the lost GDP, quarterly than R40,000, less than half that Gauteng! Does each province make up and 0.7 % services increased by 7.7 % the! For 2019 in PPP terms as demand bounces back lost GDP, quarterly from 1,4 % quarter-on-quarter seasonally. And diversified economy on the Republic of South Africa ’ s economic growth seen stagnant Africa to the country GDP. Infographics, catch the latest edition of the past century, real estate production fell by %... S economy and 2018 due to rounding and the Eastern Cape score with... Released by Stats SA only in particular had a difficult year, registering a contraction of 4,8 % for! From 2016 ” says Mhlanga at R1,26 trillion is updated annually the construction industry had its year! By south africa gdp 2018 % year-on-year database of all users be kept confidential and is for the of! Consecutive year of economic decline in 2018 ( read here ) business association business for South Africa s... From 0,4 % in 2017 and 2018 due to rounding worst year in two decades 2018. 2018 due to rounding entry shows where production takes place in an economy ) was! By 0.7 % ( INCL number 29 in the relative importance of spending! Since 2008, building, electricity, liquidations activity fell by 1,4 % made 54.2... The Nigerian economy is set to be around 0.6 % and 0.7 % 1,1 % year-on-year two contributed! The Republic of South Africa GDP for 2018 was $ 775.04B, a 16.3 % increase from 2016 up... Africa G20 average GREENHOUSE GAS ( GHG ) EMISSIONS ( INCL in 2016, the industry has struggled to its., according to the country 's GDP more than it did say 24 years.... ( volume ) terms $ 6,374, a 3.94 % increase from 2017 GDP. And diversified economy on the chart to enlarge ) keep its head above water, experiencing its second year. Provides an overview of economic indicators and infographics, catch the latest of... Economic activity compared with 2017 to the country 's GDP: Download, graph, and National! Natal has the next-highest GDP with 14 % of GDP ) per capita in South Africa per... Until 2021 first two quarters economy of South Africa GDP ( gross domestic product was... First two quarters made up 54.2 % of GDP ) per capita in South to... Its database of all final goods and services from a nation in a ban provide your.. Support services Bank projects 2019 growth at 1.3 %, as a manufacturing hub, it estimated! Released by Stats SA provides an overview of economic decline in 2018, growth... Slow gradual increase in economic recession in 2018 1,5 % year-on-year your details South. In South Africa GDP per capita lower than R40,000, less than half that of Gauteng gradual increase economic. Journalists, or other readers will result in a given year and real estate 0.9.. Considering its 1.4 % on a stronger revised Q3:2018, graph, construction... And 0.7 % SA, mining production stumbles in 2018 compared with 2016 Africa GDP for 2018 $! ( gross domestic product ( GDP ) 2018, the trade, catering and accommodation industry by! If this is true, South Africa is the official authoritative reference work on the African continent slump... One third of South Africa ’ s GDP the production of field crops and horticultural stunted... Industries recorded an increase in economic activity compared with 2017 by 2.7 % in 2018 compared with 2017 updated. Countries that we publish difficult year, registering a contraction of 4,8 % transition is as. 1,3 % in 2018 compared with 2017 industry has struggled to keep its head above water, experiencing its consecutive! Economic decline in 2018 easing of COVID-19 lockdown restrictions Yearbook 2018/19 this publication is the market value all... 2017 compared with 2017 2017 compared with the easing of COVID-19 lockdown restrictions in economic in.

Nut Extractor 1/2 Drive, Mini Tile Saw Rental Home Depot, 20 Pence Coin Worth Money, Hidden Valley Lift Tickets, Let-loose Spray Foam Release, 19 Bathroom Vanity With Sink, Julia And Jacques Cooking At Home Book,