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.

South Africa's GDP was estimated at just over 403 billion U.S. dollars in 2024, the highest in Africa. Egypt followed, with a GDP worth around 380 billion U.S. dollars, and ranked as the second-highest on the continent. Algeria ranked third, with about 260 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.

Graph and download economic data for Real Gross Domestic Product for South Africa (NGDPRSAXDCZAQ) from Q1 1993 to Q4 2024 about South Africa, real, and GDP.

The Gross Domestic Product (GDP) in South Africa was worth 380.70 billion US dollars in 2023, according to official data from the World Bank. The GDP value of South Africa represents 0.36 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 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.

In 2022, the Gross Domestic Product (GDP) of North Africa grew by 4.3 percent compared to the previous year. Due to the COVID-19 pandemic, the North African economy shrank by 1.4 percent in 2020. Economic recovery was observed in the following year, with the GDP rising by almost 12 percent. North Africa's economic growth is set to remain stable in the coming years.

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.

• 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.

South Africa ZA: GDP: Growth data was reported at 1.320 % in 2017. This records an increase from the previous number of 0.565 % for 2016. South Africa ZA: GDP: Growth data is updated yearly, averaging 3.116 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 7.940 % in 1964 and a record low of -2.137 % in 1992. South Africa ZA: GDP: Growth 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: Annual Growth Rate. Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. 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.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

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.

South Africa ZA: GDP: Growth: Gross Value Added: Industry: Manufacturing data was reported at -0.150 % in 2017. This records a decrease from the previous number of 0.909 % for 2016. South Africa ZA: GDP: Growth: Gross Value Added: Industry: Manufacturing data is updated yearly, averaging 3.159 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 15.797 % in 1964 and a record low of -10.627 % in 2009. South Africa ZA: GDP: Growth: Gross Value Added: Industry: Manufacturing 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: Gross Domestic Product: Annual Growth Rate. Annual growth rate for manufacturing value added based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Manufacturing refers to industries belonging to ISIC divisions 15-37. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average; Note: Data for OECD countries are based on ISIC, revision 4.

The Gross Domestic Product (GDP) in Central African Republic was worth 2.56 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Central African Republic represents 0 percent of the world economy. This dataset provides - Central African Republic GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

South Africa ZA: GDP: Growth: GNI data was reported at 1.042 % in 2017. This records an increase from the previous number of 0.261 % for 2016. South Africa ZA: GDP: Growth: GNI data is updated yearly, averaging 3.038 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 7.803 % in 1964 and a record low of -1.828 % in 1983. South Africa ZA: GDP: Growth: GNI 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: Annual Growth Rate. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

ZA: GDP: Growth: Imports of Goods and Services data was reported at 1.877 % in 2017. This records an increase from the previous number of -3.780 % for 2016. ZA: GDP: Growth: Imports of Goods and Services data is updated yearly, averaging 5.338 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 23.603 % in 1964 and a record low of -17.660 % in 2009. ZA: GDP: Growth: Imports of Goods and Services 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: Gross Domestic Product: Annual Growth Rate. Annual growth rate of imports of goods and services based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Imports of goods and services represent the value of all goods and other market services received from the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average;

South Africa ZA: Gross Domestic Product (GDP) data was reported at 1,208,147.969 ZAR mn in Dec 2017. This records an increase from the previous number of 1,178,807.099 ZAR mn for Sep 2017. South Africa ZA: Gross Domestic Product (GDP) data is updated quarterly, averaging 28,477.500 ZAR mn from Mar 1960 (Median) to Dec 2017, with 200 observations. The data reached an all-time high of 1,208,147.969 ZAR mn in Dec 2017 and a record low of 1,266.000 ZAR mn in Mar 1960. South Africa ZA: Gross Domestic Product (GDP) data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s South Africa – Table ZA.IMF.IFS: Gross Domestic Product: by Expenditure: Quarterly.

The Gross Domestic Product per capita in South Africa was last recorded at 5747.42 US dollars in 2023. The GDP per Capita in South Africa is equivalent to 46 percent of the world's average. This dataset provides the latest reported value for - South Africa GDP per capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Gross Domestic Product (GDP) in South Africa expanded 0.80 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides - South Africa GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

South Africa GDP for 2023 was 377.78 billion US dollars, a 6.78% decline from 2022.

<ul style='margin-top:20px;'>

<li>South Africa GDP for 2022 was <strong>405.27 billion US dollars</strong>, a <strong>3.53% decline</strong> from 2021.</li>
<li>South Africa GDP for 2021 was <strong>420.12 billion US dollars</strong>, a <strong>24.19% increase</strong> from 2020.</li>
<li>South Africa GDP for 2020 was <strong>338.29 billion US dollars</strong>, a <strong>13.11% decline</strong> from 2019.</li>
</ul>GDP at purchaser's prices 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. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

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.

South Africa Gross Domestic Product (GDP) data, 4th Quarter 2019