GDP in the first quarter of 2018 contracted by 2,2%
5 June 2018
Gross domestic product (measured by production)
South Africa’s gross domestic product (GDP) fell by 2,2% in the first quarter of 2018.1
The manufacturing industry and the mining and quarrying industry were the largest negative contributors to growth in GDP in the first quarter. The manufacturing industry decreased by 6,4% and contributed -0,8 of a percentage point to GDP growth. Six of the ten manufacturing divisions reported negative growth rates in the first quarter. The largest contributors to the decrease were the the basic iron and steel, non-ferrous metal products, metal products and machinery division and the petroleum, chemical products, rubber and plastic products division.
The mining and quarrying industry contracted by 9,9% and also contributed -0,8 of a percentage point to GDP growth. Decreased production was reported for gold and ‘other’ metal ores, predominantly the platinum group metals and iron ore.