As of April 2025, South Africa's GDP was estimated at over 410 billion U.S. dollars, the highest in Africa. Egypt followed, with a GDP worth around 347 billion U.S. dollars, and ranked as the second-highest on the continent. Algeria ranked third, with nearly 269 billion U.S. dollars. These African economies are among some of the fastest-growing economies worldwide. Dependency on oil For some African countries, the oil industry represents an enormous source of income. In Nigeria, oil generates over five percent of the country’s GDP in the third quarter of 2023. However, economies such as the Libyan, Algerian, or Angolan are even much more dependent on the oil sector. In Libya, for instance, oil rents account for over 40 percent of the GDP. Indeed, Libya is one of the economies most dependent on oil worldwide. Similarly, oil represents for some of Africa’s largest economies a substantial source of export value. The giants do not make the ranking Most of Africa’s largest economies do not appear in the leading ten African countries for GDP per capita. The GDP per capita is calculated by dividing a country’s GDP by its population. Therefore, a populated country with a low total GDP will have a low GDP per capita, while a small rich nation has a high GDP per capita. For instance, South Africa has Africa’s highest GDP, but also counts the sixth-largest population, so wealth has to be divided into its big population. The GDP per capita also indicates how a country’s wealth reaches each of its citizens. In Africa, Seychelles has the greatest GDP per capita.

This dataset provides values for GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

As of 2023, the GDP of Africa was estimated at roughly 3.1 trillion U.S. dollars. This was the highest value since 2010 when the continent's GDP amounted to approximately 2.1 trillion U.S. dollars. The GDP value in Africa generally followed an upward trend in recent years and was estimated to exceed 4.2 trillion U.S. dollars by 2027.

Leading the charge: the three leading African economies

Among the African countries, in 2021, Nigeria had the highest GDP with approximately 442 billion U.S. dollars. South Africa and Egypt followed. These three countries have the largest economies for various reasons. The most notable factors are their population size, natural resources, and level of economic development. Furthermore, Africa was projected to have a real GDP growth rate of 3.9 percent in 2023. Libya was the economy experiencing the highest growth rate in that year.

The Sub-Saharan African economy on the rise

A global comparison showed that Sub-Saharan Africa had the smallest GDP among all world regions in 2021, amounting to 1.87 trillion U.S. dollars. A closer look revealed that Sub-Saharan Africa had a GDP per capita of 1,626.3 U.S. dollars in 2021, again the lowest worldwide. However, the region's economy was forecast to experience continued growth in the following years, with the real GDP increasing by 3.7 percent in 2023.

This dataset provides values for GDP PER CAPITA reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

The Gross Domestic Product (GDP) in South Africa was worth 400.26 billion US dollars in 2024, according to official data from the World Bank. The GDP value of South Africa represents 0.38 percent of the world economy. This dataset provides the latest reported value for - South Africa GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The statistic shows gross domestic product (GDP) in Sub-Saharan Africa from 2020 to 2024, with projections up until 2030. Gross domestic product (GDP) denotes the aggregate value of all services and goods produced within a country in any given year. GDP is an important indicator of a country's economic power. In 2024, Sub-Saharan Africa's aggregated gross domestic product amounted to around 1,841.17 billion U.S. dollars.

Key information about South Africa Real GDP Growth

• The Gross Domestic Product (GDP) in South Africa expanded 1.3 % YoY in Dec 2022, following a growth of 4.0 % in the previous quarter.
• Real GDP Growth YoY data in South Africa is updated quarterly, available from Mar 1961 to Dec 2022, with an average rate of 3.0 %.
• The data reached an all-time high of 19.4 % in Jun 2021 and a record low of -17.0 % in Jun 2020.

CEIC calculates Real GDP Growth from quarterly Real GDP. Statistics South Africa provides Real GDP in local currency, at 2015 prices. Real GDP Growth prior to Q1 1994 is calculated from Real GDP at 2010 prices.


Related information about South Africa Real GDP Growth

• In the latest reports, Nominal GDP of South Africa reached 98.8 USD bn in Sep 2022.
• Its GDP deflator (implicit price deflator) increased 4.7 % in Sep 2022.
• GDP Per Capita in South Africa reached 6,966.1 USD in Dec 2021.
• Its Gross Savings Rate was measured at 15.6 % in Sep 2022.
• For Nominal GDP contributions, Investment accounted for 14.8 % in Dec 2022.
• Public Consumption accounted for 19.9 % in Dec 2022.
• Private Consumption accounted for 66.6 % in Dec 2022.

Graph and download economic data for Constant GDP per capita: All Income Levels for Sub-Saharan Africa (NYGDPPCAPKDSSF) from 1960 to 2024 about Sub-Saharan Africa, per capita, income, and GDP.

The average for 2023 based on 46 countries was 2302.22 U.S. dollars. The highest value was in the Seychelles: 16715.27 U.S. dollars and the lowest value was in Burundi: 262.17 U.S. dollars. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

Graph and download economic data for Nominal Gross Domestic Product for South Africa (NGDPSAXDCZAQ) from Q1 1993 to Q1 2025 about South Africa and GDP.

Graph and download economic data for Real Gross Domestic Product for South Africa (ZAFNGDPRPCPPPT) from 2000 to 2026 about South Africa, REO, real, GDP, and rate.

As of 2022, the real GDP growth rate in Africa was estimated at 3.7 percent, decreasing compared to the previous year when it stood at 4.8 percent. Africa's real GDP is projected to keep a stable and constant growth trend between 2023 and 2027.

Negative impact of COVID-19

Starting in 2020, the spread of the coronavirus (COVID-19) caused economic stagnation and recession in most world regions. Economies on the African continent were also negatively affected, as the health crisis determined disruptions across all economic sectors. In 2020, Africa’s real GDP dropped to minus 1.8 percent, an exceptional negative growth rate registered on the continent. Southern Africa was the most affected region, followed by Central and Western Africa, respectively.

Forecast economic growth in Africa

In 2021 and 2022, Africa’s economy showed signs of recovery after the COVID-19 crisis. Growth was expected to continue in the following years, with the total GDP increasing from around three trillion U.S. dollars in 2020 to four trillion U.S. dollars in 2027. The African economy was set to grow at a rapid pace, especially compared to other world regions. By 2027, Sub-Saharan Africa’s GDP is estimated to record a growth rate of over four percent, while the European Union’s economy would expand by less than two percent.

The average for 2024 based on 52 countries was 6829 U.S. dollars. The highest value was in the Seychelles: 29242 U.S. dollars and the lowest value was in Burundi: 836 U.S. dollars. The indicator is available from 1990 to 2024. Below is a chart for all countries where data are available.

The Gross Domestic Product (GDP) in South Africa expanded 0.10 percent in the first quarter of 2025 over the previous quarter. This dataset provides - South Africa GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Gross Domestic Product Per Capita: All Income Levels for Sub-Saharan Africa (NYGDPPCAPCDSSF) from 1960 to 2024 about Sub-Saharan Africa, per capita, income, and GDP.

Key information about South Africa Nominal GDP Growth

• South Africa Nominal GDP Growth was reported at 4.279 % in Dec 2024.
• This records a decrease from the previous number of 4.471 % for Sep 2024.
• South Africa Nominal GDP Growth data is updated quarterly, averaging 11.455 % from Mar 1961 to Dec 2024, with 256 observations.
• The data reached an all-time high of 34.616 % in Sep 1980 and a record low of -13.481 % in Jun 2020.
• South Africa Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly: Seasonally Adjusted.

CEIC calculates quarterly Nominal GDP Growth from quarterly Nominal GDP. South African Reserve Bank provides Nominal GDP in local currency.

GDP, billion currency units in South Africa, March, 2025 The most recent value is 1798.8 billion South African Rand as of Q1 2025, a decline compared to the previous value of 1928.18 billion South African Rand. Historically, the average for South Africa from Q1 1993 to Q1 2025 is 780.79 billion South African Rand. The minimum of 110.83 billion South African Rand was recorded in Q1 1993, while the maximum of 1928.18 billion South African Rand was reached in Q4 2024. | TheGlobalEconomy.com

South Africa ZA: GDP: Linked Series data was reported at 7,023,994.456 ZAR mn in 2023. This records an increase from the previous number of 6,655,523.778 ZAR mn for 2022. South Africa ZA: GDP: Linked Series data is updated yearly, averaging 2,202,121.887 ZAR mn from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 7,023,994.456 ZAR mn in 2023 and a record low of 327,231.668 ZAR mn in 1990. South Africa ZA: GDP: Linked Series data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Africa – Table ZA.World Bank.WDI: Gross Domestic Product: Nominal. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years. Data are in current local currency.;World Bank staff estimates based on World Bank national accounts data archives, OECD National Accounts, and the IMF WEO database.;;

The average for 2023 based on 45 countries was 4.91 percent. The highest value was in the Gambia: 26.82 percent and the lowest value was in the Central African Republic: 0 percent. The indicator is available from 1970 to 2023. Below is a chart for all countries where data are available.

In 2022, the Gross Domestic Product (GDP) per capita in Africa reached 2,150.6 U.S. dollars, the highest value since 2015. In 2014, the value per capita was higher, at 2,316 U.S. dollars. The GDP per capita on the continent was set to follow an upward trend in the coming years to reach nearly 2,700 U.S. dollars by 2026.