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%.
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.
South Africa GDP from 1980 to 2024
The total market value of goods and services produced annually in South Africa.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
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 |
