Gdp
Stronger manufacturing and mining performance helped boost GDP
GDP grew by 0.6% compared to the reserve bank's estimate of 0.4%.
Statistics South Africa on Tuesday reported a 0.4% increase in the country’s GDP in the first quarter of 2023.
According to the latest data from Stats SA, the economy rebounded to pre-COVID levels despite agressive power cuts and rising inflation.
The Eyewitness News bulletin with Jane Dutton.
Stats SA said that improved manufacturing output and the finance industry contributed to the country's economic rebound.
Agriculture and agro-processing exports amounted to R51 billion, up by 12% from the first quarter of 2022, during this period, with the top exports in terms of value including citrus, maize; apples and pears; and wine and grapes among others.
Cabinet is reportedly debating a relief package to help South Africans weather the storm of rising prices.
On Tuesday, Statistics South Africa announced that the South African economy shrunk by 0.7% in the second quarter of 2022.
An agreement was reached late Sunday to create a special fund for military procurement that will also allow Berlin to achieve NATO's target of spending two percent of GDP on defence.
The president sat down with The Elders at the Union Buildings on Thursday.
This comes with the news that Stats SA has on Tuesday reported a significant increase in gross domestic product (GDP) of 4.9% for last year.
The economy grew by 1.2% in the fourth quarter of last year while the yearly growth rate increased to 4.9%.
South Africa's gross domestic product (GDP) increased by 1.2% in the fourth quarter of 2021, according to data released by Stats South Africa on Tuesday.
The 2021 budget review indicated that government was spending over R269 billion on debt service costs while public debt is expected to stabilise at 88.9% of GDP by the 2025/2026 financial year.
South Africa's economy shrunk by 1.5% in the third quarter after growth in four consecutive quarters.
South Africa's economy has shrunk by 1.5% in the third quarter of this year. This quarter's results have factored in the economic disruptions caused by the civil unrest in July.
The global economy is now expected to expand by 5.6% this year, down from an earlier forecast of 5.7%, the OECD said in its updated economic outlook released as the Omicron variant has sparked concerns about its impact on the recovery.
Statistics South Africa released the second quarter GDP data on Tuesday. It indicated that the economy was nowhere near the unsatisfactory pre-COVID figures, while economic activity was back to 2017 levels.
South Africa's economy grew by 1.2% in the second quarter, with a number of sectors contributing to the growth. Here is a breakdown of which sectors contributed to the growth: