During President Thabo Mbeki's tenure as leader of South Africa, South Africa experienced an average GDP growth rate of 3.25% (quarter on quarter annualised) and inflation averaged 5.6%. South Africa gdp growth rate for 2019 was 0.15%, a 0.63% decline from 2018. The International Monetary Fund has lowered its growth forecasts for South Africa from 1.5% to 1.3% for 2019. Its Gross Savings Rate was measured at 10.7 % in Jun 2020. Education Latest Trend Ranking; Youth not … According to Stats SA, GDP growth … {"2006":53482846.01, "2007":56449944.30, "2008":58492620.82, "2009":57593407.32, "2010":59257605.06, "2011":61108092.62, "2012":62464692.28, "2013":64016939.88, "2014":65025654.49, "2015":65802060.80, "2016":66064611.02, "2017":66999425.27, "2018":67526710.75, "2019":67630026.61}, [{"1950":81.82, "1951":85.66, "1952":88.69, "1953":92.86, "1954":98.34, "1955":103.25, "1956":108.98, "1957":113.15, "1958":115.53, "1959":120.68, "1960":124.18, "1961":128.72, "1962":136.91, "1963":146.92, "1964":158.74, "1965":168.30, "1966":176.03, "1967":188.31, "1968":196.50, "1969":205.59, "1970":216.51, "1971":225.78, "1972":229.51, "1973":240.01, "1974":254.67, "1975":258.99, "1976":264.82, "1977":264.57, "1978":272.54, "1979":282.87, "1980":301.60, "1981":317.77, "1982":316.55, "1983":310.71, "1984":326.55, "1985":322.59, "1986":322.65, "1987":329.43, "1988":343.27, "1989":351.49, "1990":350.37, "1991":346.80, "1992":339.39, "1993":343.58, "1994":354.69, "1995":365.74, "1996":381.49, "1997":391.59, "1998":393.61, "1999":402.90, "2000":419.64, "2001":431.11, "2002":446.93, "2003":460.11, "2004":481.06, "2005":506.45, "2006":534.83, "2007":564.50, "2008":584.93, "2009":575.93, "2010":592.58, "2011":611.08, "2012":624.65, "2013":640.17, "2014":650.26, "2015":658.02, "2016":660.65, "2017":669.99, "2018":675.27, "2019":676.30}], {"1972":1.7, "1973":4.6, "1974":6.1, "1975":1.7, "1976":2.2, "1977":-0.1, "1978":3.0, "1979":3.8, "1980":6.6, "1981":5.4, "1982":-0.4, "1983":-1.8, "1984":5.1, "1985":-1.2, "1986":0.0, "1987":2.1, "1988":4.2, "1989":2.4, "1990":-0.3, "1991":-1.0, "1992":-2.1, "1993":1.2, "1994":3.2, "1995":3.1, "1996":4.3, "1997":2.6, "1998":0.5, "1999":2.4, "2000":4.2, "2001":2.7, "2002":3.7, "2003":2.9, "2004":4.6, "2005":5.3, "2006":5.6, "2007":5.5, "2008":3.6, "2009":-1.5, "2010":2.9, "2011":3.1, "2012":2.2, "2013":2.5, "2014":1.6, "2015":1.2, "2016":0.4, "2017":1.4, "2018":0.8, "2019":0.2}. That’s hardly a … For example, South Africa’s real GDP in 2018 was R3 144,5 billion, increasing to R3 149,3 billion in 2019 (constant 2010 prices). South Africa fell five places in the World Economic Forum’s Global Competitiveness Report 2018, to 67th out of 140 economies. It remains mostly unfree in 2020. Based on the various economic indicators in South Africa for the first few months of 2019, we do predict the first quarter GDP growth of 2019 for South Africa to be a negative number. WDI Tables. Sub-Saharan Africa gdp growth rate for 2019 was 2.28%, a 0.13% decline from 2018. South Africa economic growth for 2018 was $790.44B, a 0.73% increase from 2018. The African Development Bank launched their annual African Economic Outlook report on Thursday noting that Africa’s general economic performance continues to recover and GDP growth is projected to accelerate to 4.0% in 2019 and 4.1% in 2020. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). All rights reserved. This site uses cookies to optimize functionality and give you the best possible experience. Unadjusted real GDP growth for the first nine months of the year was 0,3% year-on-year. The use of different national income standards across Europe has an impact on cross-country comparability and in some cases leads to an underestimation of GDP. Since 1996, at the end of over twelve years of international sanctions, South Africa's Gross Domestic Product almost tripled to peak at $400 billion in 2011, but has since declined to roughly $385 billion in 2019. Statistics South Africa (StatsSA) reported on June 4 that the South African economy contracted by 3.2% quarter-on-quarter (q-o-q) during the first quarter of 2019 – the biggest decline in 10 years. International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. South Africa Annual growth rate (%) Total Annual growth rate (%) Apr-2019-Nov-2020 South Africa (red), OECD - Total (black) Total Annual growth rate (%) ... % of GDP 2019 South Africa (red) Find all indicators on Economy. Sub-Saharan Africa gdp growth rate for 2018 was 2.41%, a 0.14% decline from 2017. Most American countries use a national income accounting standard that fails to record the informal economy. Read more. To learn more about cookies, click here. Refugees have included an estimated 350,000 Mozambicans during its 1980s civil war and, more recently, several thousand Somalis, Congolese, and Ethiopians. South Africa: GDP records largest drop on record in Q2. Selected Countries and Economies. The quality of economic data across Asia-Pacific region varies considerably across countries, mainly as a result of lack of statistical capacity. The economy plunged deeper into recession in the second quarter, with GDP nosediving 51.0% at a seasonally-adjusted annualized rate (SAAR). Year-on-year growth The economic outlook for Sub-Saharan Africa (SSA) is positive, with growth rising to 5.3% in 2012, and 5.6% in 2013, over the pre-crisis average level of 5%. Growth in Southern Africa is expected to remain moderate in 2019 and 2020 after a modest recovery in 2017 and 2018. DataBank. Structural reforms urgently needed as annual growth drops to 0% y-o-y. In 2019, GDP growth for South Africa was 0.2 %. Second-quarter 2019 GDP data due on Tuesday 3 September, will probably show that South Africa dodged a recession after a sharp contraction in Q1. During President Thabo Mbeki's tenure as leader of South Africa, South Africa experienced an average GDP growth rate of 3.25% (quarter on quarter annualised) and inflation averaged 5.6%. It is estimated that the application of the latest standard would add US$824 billion. GDP growth (annual %) - South Africa from The World Bank: Data. South Africa GDP (Gross Domestic Product) was INT$676.30billion for 2019 in PPP terms. South Africa: PMI increases in August. The combination of president Mbeki and finance minister Manual proved to be the most successful economic combination in South Africa's young history. Find Out, Online tool for visualization and analysis. Spending increases by 4,6% Local government spent R105,9 billion in the quarter ended June 2020, up by R4,6 billion (or 4,6%) compared with the quarter ended June 2019, according to the latest read more » Southern Africa’s subdued growth is due mainly to South Africa’s weak development, which affects neighboring countries. 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