South Africa's GDP rose by 0.3% year-on-year in Q2 2024, following a 0.5% increase in the previous three-month period. GDP Annual Growth Rate in South Africa averaged 2.36 percent from 1994 until 2024, reaching an all time high of 19.40 percent in the second quarter of 2021 and a record low of -16.20 percent in the second quarter of 2020. source: Statistics South Africa

The Gross Domestic Product (GDP) in South Africa expanded 0.30 percent in the second quarter of 2024 over the same quarter of the previous year.

The Gross Domestic Product (GDP) in South Africa expanded 0.30 percent in the second quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in South Africa is expected to be 1.10 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 1.70 percent in 2025 and 1.80 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-06-04 09:30 AM
GDP Growth Rate YoY
Q1 0.5% 1.4% 0.6% 0.5%
2024-09-03 09:30 AM
GDP Growth Rate YoY
Q2 0.3% 0.5% 1.6%
2024-12-03 09:30 AM
GDP Growth Rate YoY
Q3 0.3% 0.8%


Related Last Previous Unit Reference
GDP Growth Rate YoY 0.30 0.50 percent Jun 2024
GDP Constant Prices 4653982.00 4631266.00 ZAR Million Jun 2024
GDP from Agriculture 123793.00 126412.00 ZAR Million Jun 2024
GDP from Construction 103164.00 102694.00 ZAR Million Jun 2024
GDP from Manufacturing 523370.00 517439.00 ZAR Million Jun 2024
GDP from Mining 201480.00 203128.00 ZAR Million Jun 2024
GDP from Public Administration 372958.00 371064.00 ZAR Million Jun 2024
GDP from Services 1132270.00 1117279.00 ZAR Million Jun 2024
GDP from Transport 380838.00 389488.00 ZAR Million Jun 2024
GDP from Utilities 100954.00 97914.00 ZAR Million Jun 2024
GDP Growth Rate 0.40 0.00 percent Jun 2024

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
0.30 0.50 19.40 -16.20 1994 - 2024 percent Quarterly
2015=100, NSA