Key findings: P0441 - Gross Domestic Product (GDP), 1st Quarter 2022
7 June 2022
South Africa’s gross domestic product (GDP) increased by 1,9% in the first quarter of 2022.
The manufacturing industry increased by 4,9% in the first quarter, contributing 0,6 of a percentage point to GDP growth. Seven of the ten manufacturing divisions reported positive growth rates in the first quarter. The petroleum, chemical products, rubber and plastic products division made the largest contribution to the increase in the first quarter. The food and beverages division; basic iron and steel, non-ferrous metal products, metal products and machinery division; and motor vehicles, parts and accessories and other transport equipment division also made significant contributions to growth.
The trade, catering and accommodation industry increased by 3,1%, contributing 0,4 of a percentage point to GDP growth. Increased economic activities were reported for wholesale trade, retail trade, motor trade and catering and accommodation services.
The finance, real estate and business services industry increased by 1,7%, contributing 0,4 of a percentage point to GDP growth. Increased economic activities were reported for insurance and pension funding, auxiliary activities, real estate and business services.