South Africa: economy

What is South Africa's GDP growth rate?

South Africa's real GDP fell 0.2% in the second quarter of 2026, after growing 0.4% in the first quarter, according to Statistics South Africa (Stats SA), released on 8 September 2026. Compared with the second quarter of 2025, GDP was 0.9% higher. For the whole of 2025, GDP grew 1.1%.

The quarterly figure is seasonally adjusted and compares one quarter with the one before; the year-on-year figure uses unadjusted data. Trade, manufacturing and mining shrank in the quarter. Stats SA is moving the national accounts to a 2022 base year, with rebased estimates due in October 2026, so past figures may be revised. The third-quarter figure is due on 1 December 2026.

Official sources: Stats SA: Gross domestic product, second quarter 2026 (PDF)

Is South Africa in a recession?

South Africa's real GDP fell 0.2% in the second quarter of 2026 after growing 0.4% in the first quarter, according to Stats SA. A technical recession is usually defined as two consecutive quarters of falling GDP, so one quarter of decline does not meet that definition.

The decline was led by trade, which fell 1.9%, manufacturing (-1.8%) and mining (-3.0%). Household spending still rose 0.4%. Whether the economy contracts again depends on the third-quarter figure, due on 1 December 2026. Stats SA's rebasing of the national accounts, due in October 2026, may also revise recent quarters.

Official sources: Stats SA: Gross domestic product, second quarter 2026 (PDF)

Does South Africa have a trade surplus?

South Africa recorded a preliminary trade surplus of R20.5 billion in August 2026, with exports of R181.8 billion and imports of R161.3 billion, according to the South African Revenue Service (SARS), released on 30 September 2026. The surplus for January to August 2026 was R149.5 billion, compared with R96.1 billion in the same period of 2025.

These figures include trade with Botswana, Eswatini, Lesotho and Namibia, South Africa's partners in the customs union. Excluding them, the August surplus was R10.2 billion. Preliminary figures are revised: July's surplus was cut from R20.1 billion to R18.0 billion.

Official sources: SARS: Trade statistics for August 2026 (PDF)

How much does South Africa trade with the rest of Africa?

South Africa exported R47.9 billion of goods to the rest of Africa in August 2026 and imported R19.1 billion, a surplus of R28.8 billion, according to SARS preliminary trade statistics. Its largest deficit by region was with Asia, at R25.3 billion.

The Africa figures include Botswana, Eswatini, Lesotho and Namibia, which share a customs union with South Africa. Excluding them, exports to Africa were R31.3 billion and the surplus R18.5 billion. Monthly figures by region move with large shipments, such as fuel and vehicles, so longer periods give a steadier picture.

Official sources: SARS: Trade statistics for August 2026 (PDF)

Is household spending growing in South Africa?

Real household final consumption expenditure in South Africa rose 0.4% in the second quarter of 2026, contributing 0.3 of a percentage point to growth, according to Stats SA. Overall GDP fell 0.2% in the quarter because net exports subtracted 1.1 percentage points: imports rose 4.9% while exports rose 0.9%.

Household spending is the largest part of GDP measured by expenditure. The figures are seasonally adjusted and in constant 2015 prices, so they remove inflation. Stats SA's planned rebasing to 2022 prices in October 2026 may revise them.

Official sources: Stats SA: Gross domestic product, second quarter 2026 (PDF)

Is South Africa's economy growing?

In 2025, real GDP growth in South Africa was 1.1%, according to the World Bank. The peak was 5.6% in 2006 and the low -6.2% in 2020. It is 42nd highest of 46 in Sub-Saharan Africa, where the median is 4.6%. Of 180 countries with 2025 data, 149th highest.

What is GDP per capita in South Africa?

The World Bank puts GDP per person in South Africa at $6,598 in 2025. Its high point since 2005 was 2011, at $8,646; its low point was 2020, at $5,581. Across Sub-Saharan Africa the middle value was $1,351, and South Africa placed 6th highest of 46. Worldwide: 99th of 180.

What is South Africa's GDP per person adjusted for prices?

The World Bank puts GDP per person at purchasing power parity in South Africa at $15,906 in international dollars in 2025. That is the highest since at least 2005. Sub-Saharan Africa median: $4,425 in international dollars; South Africa is 6th highest of 46. Worldwide: 104th of 179.

How much does South Africa export?

In 2025, exports of goods and services in South Africa was 31.4% of GDP, according to the World Bank. The peak was 33.5% of GDP in 2022 and the low 23.6% of GDP in 2005. Sub-Saharan Africa median: 26.1% of GDP; South Africa is 16th highest of 38. World rank, highest first: 78th of 133.

Does South Africa earn more abroad than it spends?

In 2025, the current account balance in South Africa was -0.4% of GDP, according to the IMF, which is a deficit. Its high point since 2005 was 2021, at 3.8% of GDP; its low point was 2013, at -5.3% of GDP. It is 8th highest of 20 in Sub-Saharan Africa, where the median is -3.6% of GDP. World rank, highest first: 60th of 132.

How much foreign investment does South Africa receive?

The latest figure from the IMF, for 2025, is -0.5% of GDP. That is the lowest since at least 2005. It is 45th highest of 46 in Sub-Saharan Africa, where the median is 2.0% of GDP. Of 179 countries with 2025 data, 167th highest.

What are bank lending rates in South Africa?

10.7%: that is the average bank lending rate in South Africa for 2025, according to the IMF. Its high point since 2005 was 2008, at 15.1%; its low point was 2021, at 7.0%. Across Sub-Saharan Africa the middle value was 17.6%, and South Africa placed 13th highest of 16. Worldwide: 29th of 73.