Economy shrinks as GDP takes a knock
The country’s gross domestic product (GDP) contracted by 2.2% in the first quarter of 2018.
Statistician general Risenga Maluleke released the figures at a media briefing in Pretoria on Tuesday.
The largest negative contributors to GDP growth in the first quarter were the agriculture, mining and manufacturing industries.
“The primary industries have recorded a growth of -13.8%, the secondary industries have recorded -4.9% and tertiary industries are the only ones which have had an increase of 0.3%.
“The negative highest decrease was recorded in agriculture which is sitting at -24,2%. You will remember that agriculture comes from a high base in the last two quarters it had recorded very high and its contribution is at -0.7%”
“The next shrink is followed by the one in mining and manufacturing, both sitting at -9,9% and -6.4%,” Maluleke said.
Finance, government, business services and real estate all made positive contributions.
The largest negative contributors to GDP growth in the first quarter were the agriculture, mining and manufacturing industries.
“The primary industries have recorded a growth of -13.8%, the secondary industries have recorded -4.9% and tertiary industries are the only ones which have had an increase of 0.3%.
“The negative highest decrease was recorded in agriculture which is sitting at -24,2%. You will remember that agriculture comes from a high base in the last two quarters it had recorded very high and its contribution is at -0.7%”
“The next shrink is followed by the one in mining and manufacturing, both sitting at -9,9% and -6.4%,” Maluleke said.
Finance, government, business services and real estate all made positive contributions.
Investment in infrastructure was down by 3,2% in Q1:2018 q/q. Construction works & residential buildings both declined #GDP #StatsSA https://t.co/jnyRS5Fy1v pic.twitter.com/pa8yfnRPB5
— Stats SA (@StatsSA) 5 June 2018