South Africa GDP Growth Rate

The South African economy grew by just 0.1% on quarter in Q1 2025, following a downwardly revised 0.4% increase in the previous quarter, while analysts predicted stagnation. Four out of ten industries registered growth, with agriculture (+15.2%) contributing the most, followed by transport (+2.4%), trade (+0.5%) and finance (+0.2%). Manufacturing and mining and quarrying were the biggest drags, declining by 2.0% and 4.1%, respectively, mainly due to persistent inefficiencies in the country's vital infrastructure. On the demand side, growth was positively influenced by household consumption (+0.4%), and inventories. Net trade, however, contributed negatively to expenditure on GDP, as the 1% growth in exports was outpaced by a 2% increase in imports. Fixed investment contracted by 1.7% and government spending fell 0.1%. On a yearly basis, the GDP expanded by 0.8% in Q1, maintaining the same pace as Q4, which marked the strongest growth in a year. source: Statistics South Africa南非经济在2025年第一季度环比仅增长0.1%，此前经下修后的上一季度增幅为0.4%，而分析师此前曾预测经济将陷入停滞。十大行业中有四个实现增长，其中农业（增幅15.2%）贡献最大，其次为交通运输业（+2.4%）、贸易业（+0.5%）与金融业（+0.2%）。制造业、采矿业与采石业则是经济增长的最大拖累项，分别下滑2.0%和4.1%，这主要源于该国关键基础设施长期存在的低效问题。从需求端来看，经济增长受到家庭消费（+0.4%）与库存的正向拉动。不过净贸易对GDP支出形成负贡献：出口1%的增幅被进口2%的增幅反超。固定投资收缩1.7%，政府支出下降0.1%。同比来看，2025年第一季度GDP同比增长0.8%，增速与第四季度持平，而第四季度为一年内的最高增速。数据来源：南非统计局（Statistics South Africa）