Gross domestic product (measured by production)

South Africa's gross domestic product (GDP) increased by 0,1% in the first quarter of 2025, following an increase of 0,4% in the fourth quarter of 2024.

The agriculture, forestry and fishing industry increased by 15,8%, contributing 0,4 of a percentage point to the positive GDP growth. This was primarily due to increased economic activities reported for horticulture and animal products.

The transport, storage and communication industry increased by 2,4%, contributing 0,2 of a percentage point. Increased economic activities were reported for land transport, air transport and transport support services.

The finance, real estate and business services industry increased by 0,2%, contributing 0,1 of a percentage point. Increased economic activities were reported for insurance and pension funding and auxiliary activities.

The trade, catering and accommodation industry increased by 0,5%, contributing 0,1 of a percentage point. Increased economic activities were reported for retail trade, motor trade, accommodation and food and beverages.

The manufacturing industry decreased by 2,0%, contributing -0,2 of a percentage point. Seven of the ten manufacturing divisions reported negative growth rates. The largest negative contributions were reported for the petroleum, chemical products, rubber and plastic products; food and beverages; and motor vehicles, parts and accessories and other transport equipment divisions.

The mining and quarrying industry decreased by 4,1%, contributing -0,2 of a percentage point. The largest negative contributors were platinum group metals (PGMs).

Expenditure on GDP

Household final consumption expenditure (HFCE) increased by 0,4%, contributing 0,3 of a percentage point to the total growth. Positive growth rates were reported for durable goods, non-durable goods and services.

The main positive contributors to the increase in HFCE were expenditures on transport (1,1% and contributing 0,2 of a percentage point), food and non-alcoholic beverages (0,5% and contributing 0,1 of a percentage point), restaurants and hotels (1,4% and contributing 0,1 of a percentage point), 'other' (0,6% and contributing 0,1 of a percentage point) and health (0,8% and contributing 0,1 of a percentage point).

The negative contributors were expenditures on recreation and culture; communication; and housing, water, electricity, gas and other fuels.

Final consumption expenditure by general government decreased by 0,1%. This was mainly driven by decreases in compensation of employees and purchases of goods and services.

Gross fixed capital formation decreased by 1,7%, contributing -0,2 of a percentage point. The negative contributors to the decrease were residential buildings (-5,8% and contributing -0,6 of a percentage point), machinery and other equipment (-1,4% and contributing -0,6 of a percentage point), construction works(-2,8% and contributing -0,5 of a percentage point) and transport equipment (-3,1% and contributing -0,3 of a percentage point).

There was a R9 billion drawdown of inventories (seasonally adjusted and annualised value). Large decreases in five industries, namely transport, storage and communication; trade, catering and accommodation; manufacturing; finance, real estate and business services; and personal services, contributed to the inventory drawdown.

Net exports contributed negatively (-0,3 of a percentage point) to expenditure on GDP. Exports of goods and services increased by 1,0%, largely influenced by increased trade in vegetable products, vehicles and transport equipment excluding large aircraft and mineral products.

Imports of goods and services increased by 2,0%, largely influenced by increased trade in chemical products, mineral products and machinery and electrical equipment.