DOCUMENTS

GDP grew by 1.9% in the first quarter of 2022 – Stats SA

SA Stats |

June 08, 2022

Net exports contributed negatively to spending growth on GDP in the first quarter

Key Findings: P0441 – Gross Domestic Product (GDP), 1st Quarter 2022

June 7, 2022

South Africa’s gross domestic product (GDP) grew by 1.9% in the first quarter of 2022.

The manufacturing industry grew by 4.9% in the first quarter, contributing 0.6 percentage point to GDP growth. Seven of the ten manufacturing divisions recorded positive growth rates in the first quarter. The petroleum products, chemicals, rubber and plastics division contributed the most to the increase in the first quarter. The food and beverage division; basic iron and steel, non-ferrous metal products, metal products and machinery division; and the motor vehicles, parts and accessories and other transport equipment division also contributed significantly to the growth.

The trade, restaurant and accommodation industry grew by 3.1%, contributing 0.4 percentage points to GDP growth. An increase in economic activities was reported for wholesale trade, retail trade, automobile trade, and food and accommodation services.

–>

The finance, real estate and business services sector grew by 1.7%, contributing 0.4 percentage point to GDP growth. An increase in economic activities was reported for insurance and pension funds, ancillary activities, real estate and business services.

The personal services industry grew 1.1% and contributed 0.2 percentage points to GDP growth. An increase in economic activities has been reported for the community and other producers.

The transportation, warehousing and communications industry rose 1.8%, contributing 0.1 percentage point. An increase in economic activities was reported for land transport and communication services.

Expenditure on GDP