This site uses cookies to optimize functionality and give you the best possible experience. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). It remains mostly unfree in 2020. Improved economic growth across Africa has been broad, with variation across economies and regions. The South African economy fell back into the mostly unfree category in 2019 after 24 years in the ranks of the moderately free. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Growth for 2019 is now projected at 0.8%, … Even though South Africa’s 257 municipalities increased their spending in the quarter ended June 2020, the rise was slower than increases recorded in previous quarters. South Africa gdp growth rate for 2016 was 0.40%, a 0.79% decline from 2015. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Annual percentage growth rate of GDP at market prices based on constant local currency. Missing data, out of date base years, disputed population data and the size of the unrecorded informal economy means that international rankings of countries in terms of GDP and GDP per capita are meaningless. It is estimated that the application of the latest standard would add US$824 billion. All rights reserved. South Africa gdp growth rate for 2017 was 1.41%, a 1.02% increase from 2016. WDI Tables. According to Stats SA, GDP growth … Macroeconomic Performance and Prospects. Read more. South Africa economic growth 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. South Africa: GDP records largest drop on record in Q2. Selected Countries and Economies. List (2019) Rates in bold italic are IMF staff estimates.. Rank Country/region Real GDP growth rate (%) 1 South Sudan 11.3: 2 Rwanda 10.1: 3 Libya 9.9: 4 Dominica 9.2 Growth for 2019 is now projected at 0.8%, half a percentage point lower than April’s forecast and unchanged from 2018, according to the bank’s October Africa’s Pulse report. Though South Africa GDP growth fluctuated substantially in recent years, it tended to decrease through 1970 - 2019 period ending at 0.2 % in 2019. - … The World Bank has cut South Africa’s growth forecast for 2019 through to 2021, citing weak investor sentiment and lingering policy uncertainty. Southern Africa’s subdued growth is due mainly to South Africa’s weak development, which affects neighboring countries. World Bank national accounts data, and OECD National Accounts data files. South Africa GDP (Gross Domestic Product) was INT$676.30billion for 2019 in PPP terms. And the number of -0.6% just shows that South Africa's economy continues to struggle to find any form of traction to grow. The World Bank projects 2019 growth at 1.3%, accelerating further to 1.7% in 2020. The tax revenue-to-GDP ratio declined marginally to 25.7% in 2019 from 25.9% in 2018. DataBank. World Bank report indicates South Africa GDP growth will expand by 1.3% in 2019 A slash in expected GDP numbers makes 2019 a somber year for the economy. SA's economy shrank by more than 3% in the first quarter of 2019 - as loadshedding, a strike at gold mines, and a dire lack of investment hit growth. South Africa: PMI increases in August. South Africa gdp growth rate for 2018 was 0.79%, a 0.63% decline from 2017. 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 » Due to inflation targeting, the exchange rate pass-through to inflation has been limited. Structural reforms urgently needed as annual growth drops to 0% y-o-y. Aggregates are based on constant U.S. dollars. Stats SA has published the latest GDP data for South Africa, showing that the country’s economy shrank in the fourth quarter of 2019. {"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}. 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