What was South Africa's GDP growth (annual %) in 2024?

In 2024, South Africa's GDP growth (annual %) was 0.53, according to World Bank Open Data.

Is South Africa's GDP growth (annual %) rising or falling?

South Africa's GDP growth (annual %) fell 33.7% from 2023 to 2024.

How does South Africa rank globally on GDP growth (annual %)?

In 2024, South Africa ranked #169 out of 193 countries reporting GDP growth (annual %).

How does South Africa's GDP growth (annual %) compare to the world average?

The global average for GDP growth (annual %) in 2024 was 3.07, so South Africa is below the world average. Within Sub-Saharan Africa, it ranks #44 of 46.

South Africa: GDP growth (annual %)

Name: South Africa: GDP growth (annual %)
Creator: World Bank
License: https://datacatalog.worldbank.org/public-licenses#cc-by

In 2024, South Africa's GDP growth (annual %) was 0.53.

That's down 33.7% from 2023, the highest value since 2023.

The global average for this indicator in 2024 was 3.07 . South Africa ranks #169 globally out of 193 reporting countries. Within Sub-Saharan Africa, it ranks #44 of 46.

Source: World Bank Open Data (NY.GDP.MKTP.KD.ZG) • Data as of 2024

Trend (2005–2024)

2008 · Global financial crisis
2020 · COVID-19 pandemic
2014 · Oil price collapse
2022 · Russia–Ukraine war begins

Highlights

Peak: 5.60; 2006
Trough: -6.17; 2020
1-year change: -33.7%
5-year change: +105.8%; +15.5% / yr
10-year change: -62.2%; -9.3% / yr

Historical Data — Last 10 Years

Year	GDP growth (annual %)
2024	0.5348
2023	0.8061
2022	2.0581
2021	4.8586
2020	-6.1689
2019	0.2599
2018	1.5568
2017	1.1579
2016	0.6646
2015	1.3219

About GDP growth (annual %)

Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.

Indicator code: NY.GDP.MKTP.KD.ZG • Category: Economy

How to read GDP figures: GDP (Gross Domestic Product) is measured in current US dollars, which means values change both due to real economic growth and currency fluctuations. A more useful comparison across countries is GDP per capita, which divides GDP by population. For growth trends, check GDP growth (annual %).

Frequently asked questions

What was South Africa's GDP growth (annual %) in 2024?: In 2024, South Africa's GDP growth (annual %) was 0.53, according to World Bank Open Data.
Is South Africa's GDP growth (annual %) rising or falling?: South Africa's GDP growth (annual %) fell 33.7% from 2023 to 2024.
How does South Africa rank globally on GDP growth (annual %)?: In 2024, South Africa ranked #169 out of 193 countries reporting GDP growth (annual %).
How does South Africa's GDP growth (annual %) compare to the world average?: The global average for GDP growth (annual %) in 2024 was 3.07, so South Africa is below the world average. Within Sub-Saharan Africa, it ranks #44 of 46.
What is GDP growth (annual %) and how is it measured?: Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.

Download this data: CSV JSON

Source: World Bank Open Data (NY.GDP.MKTP.KD.ZG), CC BY 4.0.