South Africa's economy expanded by 0.6% year-on-year in 2023, in line with a National Treasury forecast, compared with 1.9% a year before. The weak performance is mainly attributed to inefficiencies at state-owned power utility Eskom and port and freight rail company Transnet. Growth was further hindered by the cost of living crisis, which constrained consumer spending. source: World Bank
Full Year GDP Growth in South Africa averaged 2.79 percent from 1961 until 2023, reaching an all time high of 7.94 percent in 1964 and a record low of -6.00 percent in 2020. This page includes a chart with historical data for South Africa Full Year Gdp Growth. South Africa Full Year Gdp Growth - values, historical data and charts - was last updated on November of 2024.
Full Year GDP Growth in South Africa is expected to reach 1.10 percent by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Full Year Gdp Growth is projected to trend around 1.70 percent in 2025 and 1.80 percent in 2026, according to our econometric models.