The seasonally adjusted real gross domestic product (GDP) at market prices for the first quarter of 2014 decreased by an annualised rate of 0,6 percent. The main contributors to this decrease in economic activity were the mining and quarrying industry (-1,3 percentage points) and the manufacturing industry (-0,7 of a percentage point).
The mining and quarrying industry’s contribution of -1,3 percentage points was based on a negative growth of 24,7 percent, due to lower production in the mining of gold, the mining of other metal ores (including platinum) and ‘other’ mining and quarrying (including diamonds).
The manufacturing industry’s negative contribution of 0,7 of a percentage point was based on a negative growth of 4,4 percent, mainly due to lower production in the petroleum, chemical products, rubber and plastic products division and the basic iron and steel, non-ferrous metal products, metal products and machinery division.
The biggest positive contributors in economic activity included finance, real estate and business services (0,4 of a percentage point), the wholesale, retail and motor trade; catering and accommodation industry (0,3 of a percentage point) and the transport, storage and communication industry and general government services (each contributing 0,2 of a percentage point).
The seasonally adjusted real annualised value added by the primary and secondary sectors recorded decreases of 17,2 percent and 2,7 percent respectively, while the tertiary sector recorded an increase of 1,8 percent during the first quarter of 2014.
The unadjusted real GDP at market prices for the first quarter of 2014 increased by 1,6 percent compared with the first quarter of 2013. The most notable performance was the construction industry that increased by 4,9 percent. Negative contributions were recorded by the mining and quarrying industry (negative growth of 2,5 percent) and the agriculture, forestry and fishing industry (negative growth of 1,6 percent).
The nominal GDP at market prices during the first quarter of 2014 was R874 billion, which is R2 billion less than in the fourth quarter of 2013.
Download – GDP Publication