gdp south africa 2019

Constant 2010 USD $) Share in 2019 (%) Rank … It once boast of a booming tourism sector, however, extremist groups and their threat to the security of lives has had significant effect on the economy.The services sector accounts for just over half of GDP and industry a quarter, made up of mining, primarily phosphate rock mining, construction, and manufacturing.

South Africa is an upper-middle-income economy – one of only eight such countries in Africa. StatsSA has published South Africa’s Gross Domestic Product (GDP) data for the third quarter of 2019, showing that growth contracted by 0.6%. African countries have seen recent increase in GDP growth, however, IMF figures reveal the continent is not doing as much in economic trigger sectors.Statistics released in 2018 by the International Monetary Fund (IMF) for 2017 reveals Nigeria and South Africa are the largest economies in Africa with a combined GDP of around$750 billion. The growth of the tourism sector has been a boon for South Africa’s economy.

Conscious pragmatic efforts will have to be made especially in strengthening the non oil sectors if the continent wants to compete with top economies around the world.With an estimated population of 200 million, the West African country boast of $376.284bn in GDP, making Nigeria the highest GDP in Africa. Education Latest Trend Ranking; Youth not in employment, education or training (NEET) Indicator: 11.8 15-19 year-old men % in same age group 2018 South Africa % in same age group: 15-19 year-old men The country is blessed with abundant natural resources especially crude oil, which accounts for over 70 percent of its earnings. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Its tech industry is also booming, as start ups continue to take center stage.With a GDP of $349.299bn, South Africa is the second largest economy in the continent. November’s reading is the lowest since December 2010 when the rate was 3,5%. Telecoms and textile sector recorded the highest growth.

All details will be kept confidential and is for the use of Stats SA only. The government intervened by cutting expenditure, increasing non-oil revenue, and devaluing the kwanza. A demand for manganese ore, chrome, iron ore, and anything used in the production of steel helped spur on this growth. GDP growth (annual %) - South Africa. Formal sector employment decreased by 28 000 in September 2019, with 11 000 full-time and 17 000 part-time jobs shed during the quarter. Petroleum and natural gases are the country’s most important mineral resources, with the biggest exports being either mined or manufactured, while agriculture plays a comparatively minor role. The September 2019 Quarterly Employment Statistics (QES) survey showed that an estimated 10 142 000 people were employed in the formal non-agricultural sector of the South African economy, which is down by 28 000 from 10 170 000 in the   Annual inflation eased further in November, falling to 3,6% from October’s 3,7%.
As the country’s supplier of official statistics, Stats SA is continuously working towards finding new and inventive ways of making data accessible to stakeholders, government and   South Africa enjoys a positive tourism trade balance with the rest of the world. Not to mention the rich agricultural sector that’s responsible for 18% of the country’s GDP and almost a third of employment. To calculate working   The South African government spent 7,3% more in 2017/18 than it did in 2016/17. October’s reading is the lowest since February 2011 when the annual rate was also 3,7%.

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It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. South Africa's tax-to-GDP ratio in 2017 (28.4%) was higher than the average of the 26 African countries in Revenue Statistics in Africa 2019 (17.2%) by 11.2 percentage points and also higher than the LAC average (22.8%). The South African GDP shrank an annualized 1.4% on quarter in the three months to December of 2019, following an upwardly revised 0.8% contraction in the previous period and much worse than market expectations of a 0.1% decrease. In the same period, foreign e… 10Y 25Y World Bank national accounts data, and OECD National Accounts data files. None; Aggregates; Same region; Similar values; Highest values; Lowest values; Share Details. Kindly participate in this short survey and provide your details.

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