Gross domestic product...Electricity: Electricity generated and consumed, as well as water...

GDP

Q3 2017

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Gross

domestic

product3rd quarter 2017Embargo: 11:30am

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#GDP

GDP

Q3 2017

GDP

Q3 2017


GDP

Q3 2017

GDP

production

GDP

Q3 2017


Quarter-on-quarter

2,0%in Q3 2017

Seasonally adjusted and annualised

Year-on-year

0,8%in Q3 2017

Unadjusted

9 month - 9 month

1,0%in Q3 2017

Unadjusted

GDP

Q3 2017


The largest contributors to growth in Q3 2017 were activities in the agriculture, mining and manufacturing industries

Quarter-on-quarter, seasonally adjusted and annualised

GDP growth rates

GDP

Q3 2017


In the Q3 2017, the primary sector recorded the highest growth, with smaller contributions by the secondary and tertiary sectors


2,1%

0,3%

Growth rates in various sectors

14,9%

GDP

Q3 2017


0,9

0,5

0,5

0,3

0,1

0,1

0,0

-0,1

GDP

2,0%

LHS: growth rates RHS: contributions


-0,1

-0,1

GDP

Q3 2017


Growth rates by sectorQuarter-on-quarter, seasonally adjusted and annualised, Q3 2017

Agriculture: Increased production of field crops and horticultural products contributed to the rise in agriculture

Mining: Increased production was reported for gold and platinum group metals

Agriculture

44,2%14,9% 6,6%

PRIMARY

SECTORMining

GDP

Q3 2017



Manufacturing: Growth was spearheaded by activities in the petroleum and basic metals

Electricity: Electricity generated and consumed, as well as water distribution, declined

Construction: Fell in line with declining residential, non-residential and construction works activities

Electricity

5,5% 1,1%

Construction

2,1%

SECONDARY

SECTORManufacturing

4,3%

GDP

Q3 2017



Trade

0,4%

Transport

0,6%0,3%

TERTIARY

SECTORFinance

1,2%

Government

0,7%

Personal

services

0,9%

Trade: Weaknesses in wholesale trade sales contributed to a decline despite a rebound in the retail trade sales

Transport: Increased activity was reported for land and air transportation and communication services

Finance: Financial intermediation and auxiliary activities contributed to the growth of the finance industry

Government: Declined for the third time in 2017, partly attributed to declining employment numbers

GDP

Q3 2017


Nominal GDP values for Q3 2017

GDP

Q3 2017


Manufacturing was up by R9 billion to R140 billion

Mining was up by R7 billion to R83 billion

Electricity was down by R6 billion to R39 billion

Nominal GDP estimated at R1 168 billion for Q3 2017,

R22 billion more than in Q2 2017

GDP

Q3 2017

GDP

Q3 2017


Shares of

nominal GDP

Q3 2017

GDP

Q3 2017


GDP

Q3 2016

GDP

Q2 2017

Expenditure

on GDP

GDP

Q3 2017

GDP

Q3 2017


Quarter-on-quarter

2,1%in Q3 2017


Year-on-year

1,3%in Q3 2017

Unadjusted

9 month - 9 month

0,8%in Q3 2017

Unadjusted

GDP

Q3 2017


Growth in Q3 2017 was largely drive by increases in household consumption expenditure, gross fixed capital formation and net

exports. Government spending and changes in inventories contributed negatively to growth.


Expenditure on GDP growth rates

GDP

Q3 2017


0,8


Change in inventories: -R5 527 million (contribution of -1,5 percentage points)

Strong household spending contributed to positive GDP growth

Quarter-on-quarter, seasonally adjusted, annualised

Expenditure

on GDP:

2,1%

1,6

-0,1

-3,3

4,6

GDP

Q3 2017


Household final

consumption

expenditure (HFCE)

GDP

Q3 2017


Household final

consumption expenditure

2,6%in Q3 2017

(quarter-on-quarter)


GDP

Q3 2017



Spending related to transport, health, communication and household furnishings contributed largely to growth in Q3 2017

HFCE growth rates

GDP

Q3 2017


0,2

0,4

0,3

0,4

0,4

0,8

0,1

0,0

-0,1

0,2

0,0

-0,1


2,6%

HFCE by

purpose


GDP

Q3 2017


1,6

0,4


2,6%

HFCE by

durability


0,5

0,1

GDP

Q3 2017


Government final

consumption

expenditure (GFCE)

GDP

Q3 2017


Government final

consumption expenditure

-0,5%in Q3 2017



GDP

Q3 2017


Declining employment numbers contributed to a drop in government spending in Q3 2017


GFCE growth rates

GDP

Q3 2017


Gross fixed capital

formation (GFCF)

GDP

Q3 2017


Gross fixed capital formation

4,3%in Q3 2017



GDP

Q3 2017


Investment was up 4,3% in Q3 2017 on the back of increased spending on transport equipment and machinery and equipment


GFCF growth rates

GDP

Q3 2017


3,7

2,5

-0,4

-0,3

-0,2

-0,6

-0,4


4,3%

GFCF by

asset type


GDP

Q3 2017


Change in inventories

GDP

Q3 2017


Change in inventories(R million)

Large inventory drawdowns were reported for the trade sector in Q3 2017


GDP

Q3 2017


Exports and Imports

GDP

Q3 2017


Exports of goods

and services

-10,3%in Q3 2017


Imports of goods

and services

-13,7%in Q3 2017


Seasonally adjusted and annualised Seasonally adjusted and annualised

GDP

Q3 2017


Exports were down 10,3% in Q3 2017, influenced by declining trade in precious mineral, base metals and mineral products


Exports growth

rates

GDP

Q3 2017


Imports were down 13,7% in Q3 2017, influenced by declining trade in mineral products and machinery and equipment


Imports growth rates

GDP

Q3 2017


Recap

GDP

Q3 2017



GDP and expenditure on GDP growth rates

GDP

Q3 2017


Quarter-on-quarter

2,0%in Q3 2017


Year-on-year

0,8%in Q3 2017

Unadjusted

9 month - 9 month

1,0%in Q3 2017

Unadjusted

Gross domestic product...Electricity: Electricity generated and consumed, as well as water...

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