SA economy grows at 1,9% in 2013

South Africa’s real annual gross domestic product (GDP) increased by 1,9% in 2013, following an increase of 2,5% in 2012, according to Statistics South Africa.

In the fourth quarter of 2013 the GDP at market prices increased by 3,8%, compared with an increase of 0,7% during the previous quarter.

Stats SA said the main contributors to the increase in economic activity in the fourth quarter of last year were the manufacturing industry (1,8 percentage points); the mining and quarrying industry (0,8 of a percentage point); the wholesale, retail and motor trade; catering and accommodation industry; and finance, real estate and business services (each contributing 0,3 of a percentage point).

A negative contribution was recorded by the electricity, gas and water industry, which declined by R5 billion to R21 billion.

The quarterly value added to the GDP by agriculture, forestry and fisheries at current prices in the fourth quarter of 2013 was R8,58 billion, compared to R9,36 billion in the fourth quarter of 2012.

Read the fourth quarter fact sheet 1 and fact sheet 2