South Africa's GDP changed from approximately $89B 412M in 1980 to $373B 233M in 2024, showing an overall 317.4% sharply increased during the period.
The lowest GDP was recorded in 1985 at $64B 480M, and the highest in 2011 at $458B 708M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 3.3%.
For comparison, the average annual growth rate of Nigeria was 4.2%, and that of Egypt was 6.3%.
South Africa GDP from 1980 to 2024
The total market value of goods and services produced annually in South Africa.
Overview of South Africa's GDP (1980–2024)
The Gross Domestic Product (GDP) of South Africa recorded a 317.4% sharply increased from 1980 to 2024.
The average GDP during this period was $237B 978M, and the median was $171B 736M.
GDP fluctuated within a range of $394B 227M, with a standard deviation of $128B 479M.
The average annual change was $9B 25M.
Highest and Lowest GDP Records
- Lowest GDP: 1985, $64B 480M
- Highest GDP: 2011, $458B 708M
- Most Recent GDP: 2024, $373B 233M
Notable Annual GDP Changes
- 2010: Significant increase in GDP
- 2020: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and South Africa's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $389B 245M → $338B 193M
- Outcome: sharply declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $332B 650M → $331B 184M
- Outcome: remained stable
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $151B 855M → $135B 526M
- Outcome: sharply declined
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $169B 4M → $152B 885M
- Outcome: declined
Key Economic Indicators of South Africa (1980–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 89B 412M | $ 3,074.68 | $ 5,110.13 | $ 148B 602M | 6.621 % | 3.676 % | 33.36 % | 0 % | 29M 80K people |
1981 | $ 93B 150M | $ 3,122.69 | $ 5,745.29 | $ 171B 382M | 5.361 % | -5.521 % | 26.38 % | 0 % | 29M 830K people |
1982 | $ 85B 897M | $ 2,806.16 | $ 5,922.07 | $ 181B 275M | -0.383 % | -3.984 % | 20.83 % | 0 % | 30M 610K people |
1983 | $ 96B 205M | $ 3,062.89 | $ 5,886.49 | $ 184B 895M | -1.847 % | -0.42 % | 24.84 % | 0 % | 31M 410K people |
1984 | $ 84B 838M | $ 2,633.91 | $ 6,250.74 | $ 201B 336M | 5.099 % | -2.208 % | 21.59 % | 0 % | 32M 210K people |
1985 | $ 64B 480M | $ 1,955.16 | $ 6,221.54 | $ 205B 187M | -1.212 % | 3.599 % | 24.32 % | 0 % | 32M 979K people |
1986 | $ 73B 399M | $ 2,176.06 | $ 6,206.79 | $ 209B 355M | 0.018 % | 3.781 % | 23.58 % | 0 % | 33M 730K people |
1987 | $ 96B 533M | $ 2,801.31 | $ 6,356.64 | $ 219B 50M | 2.101 % | 5.289 % | 22.01 % | 0 % | 34M 460K people |
1988 | $ 104B 10M | $ 2,954.82 | $ 6,713.06 | $ 236B 300M | 4.2 % | 2.468 % | 22.33 % | 0 % | 35M 200K people |
1989 | $ 108B 70M | $ 3,004.44 | $ 6,990.46 | $ 251B 447M | 2.395 % | 1.401 % | 22.71 % | 0 % | 35M 970K people |
1990 | $ 126B 27M | $ 3,425.59 | $ 7,067.90 | $ 260B 28M | -0.318 % | 1.226 % | 19.46 % | 0 % | 36M 790K people |
1991 | $ 135B 227M | $ 3,587.88 | $ 7,059.85 | $ 266B 86M | -1.018 % | 1.047 % | 18.88 % | 0 % | 37M 690K people |
1992 | $ 146B 970M | $ 3,802.58 | $ 6,890.92 | $ 266B 334M | -2.137 % | 1.336 % | 17.05 % | 0 % | 38M 650K people |
1993 | $ 147B 236M | $ 3,716.19 | $ 6,966.42 | $ 276B 10M | 1.234 % | 1.887 % | 16.05 % | 0 % | 39M 620K people |
1994 | $ 153B 569M | $ 3,786.21 | $ 7,172.69 | $ 290B 925M | 3.2 % | 0.01 % | 16.48 % | 0 % | 40M 560K people |
1995 | $ 171B 736M | $ 4,145.21 | $ 7,391.53 | $ 306B 231M | 3.1 % | -1.452 % | 16.25 % | 0 % | 41M 430K people |
1996 | $ 163B 340M | $ 3,869.70 | $ 7,705.45 | $ 325B 247M | 4.3 % | -1.014 % | 15.55 % | 0 % | 42M 210K people |
1997 | $ 169B 4M | $ 3,937.66 | $ 7,909.08 | $ 339B 458M | 2.6 % | -1.314 % | 14.98 % | 0 % | 42M 920K people |
1998 | $ 152B 885M | $ 3,508.14 | $ 7,916.24 | $ 344B 990M | 0.5 % | -1.549 % | 14.88 % | 0 % | 43M 580K people |
1999 | $ 151B 426M | $ 3,423.59 | $ 8,100.12 | $ 358B 268M | 2.4 % | -0.449 % | 15.21 % | 0 % | 44M 230K people |