SA’s GDP increases by 1.2 percent in the fourth quarter

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[Picture: Shutterstock]

South Africa’s economy is seeing a slow recovery as the Gross Domestic Product (GDP) grew by 1.2 percent in the fourth quarter of last year, taking the annual growth rate for 2021 to 4.9 percent.

Statistics South Africa released the data.

It noted that the country’s economy was 1.8 percent smaller than the first quarter of 2020 in pre-pandemic levels, but the annual growth rate showed some improvements.

Mining, agriculture and manufacturing recorded the highest growth rates, with finance and personal services being among the biggest positive contributors to overall growth.

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May 18, 2022
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