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 fiscal deficit remained high at an estimated 4.3% in 2019, up from 4.2% in 2018, as the country continued to face revenue shortfalls due to slow economic growth. And the number of -0.6% just shows that South Africa's economy continues to struggle to find any form of traction to grow. 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 » Growth for 2019 is now projected at 0.8%, … If you continue to navigate this website beyond this page, cookies will be placed on your browser. World Bank national accounts data, and OECD National Accounts data files. South Africa fell five places in the World Economic Forum’s Global Competitiveness Report 2018, to 67th out of 140 economies. World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2019, building on the lifetimes work of Angus Maddison. Year-on-year growth The World Bank projects 2019 growth at 1.3%, accelerating further to 1.7% in 2020. 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. Sub-Saharan Africa gdp growth rate for 2018 was 2.41%, a 0.14% decline from 2017. South Africa’s stability and economic growth has acted as a magnet for refugees and asylum seekers from nearby countries, despite the prevalence of discrimination and xenophobic violence. Most American countries use a national income accounting standard that fails to record the informal economy. View South Africa's Real GDP Growth from Mar 1961 to Jun 2020 in the chart: What was South Africa's Real GDP Growth in Jun 2020? South Africa gdp growth rate for 2017 was 1.41%, a 1.02% increase from 2016. Thematic data tables from WDI. Online tool for visualization and analysis. Chart. The latest general elections were held in May 2019. 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 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. © World Economics Limited. Its Gross Savings Rate was measured at 10.7 % in Jun 2020. September 8, 2020. The tax revenue-to-GDP ratio declined marginally to 25.7% in 2019 from 25.9% in 2018. 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%. Selected Countries and Economies. GDP growth (annual %) - South Africa from The World Bank: Data. All rights reserved.Terms & Conditions. Stats SA has published the latest GDP data for South Africa, showing that the country’s economy shrank in the fourth quarter of 2019. It remains mostly unfree in 2020. Annual percentage growth rate of GDP at market prices based on constant local currency. South Africa gdp growth rate for 2018 was 0.79%, a 0.63% decline from 2017. IMF lowers South Africa’s growth forecast for 2019 to a paltry 0.7% By Siphelele Dludla Oct 15, 2019 JOHANNESBURG – The International Monetary Fund … Aggregates are based on constant U.S. dollars. Excluding South Africa, the continent’s largest economy, growth in Sub-Saharan Africa is forecast to rise to 6%. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Sub-Saharan Africa gdp growth rate for 2017 was 2.55%, a 1.31% increase from 2016. The combination of president Mbeki and finance minister Manual proved to be the most successful economic combination in South Africa's young history. 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. World Economics Limited. It is estimated that the application of the latest standard would add US$824 billion. Given population growth, gross domestic product (GDP) per capita growth has been close to nil since 2014, leaving little room to reduce poverty. WDI Tables. The economy plunged deeper into recession in the second quarter, with GDP nosediving 51.0% at a seasonally-adjusted annualized rate (SAAR). Annual percentage growth rate of GDP at market prices based on constant local currency. 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