In 2023, South Africa's GDP composition was predominantly driven by the services sector, accounting for 43.39% of the GDP. The mining, manufacturing, and utilities sector contributed 24.95%, while wholesale, retail trade, restaurants, and hotels added 15.21%. Transport, storage, and communication followed with a 10.04% share, while construction and agriculture, hunting, forestry, and fishing contributed 3.98% and 2.43% respectively. Recent trends show the services sector continues to grow steadily, while mining and manufacturing see slight declines. Transport and communication are gradually increasing in relevance.
Future trends to watch:
- Potential growth in technology and digital services within the services sector could boost its GDP share.
- The mining sector might experience fluctuations due to global commodity demand and pricing.
- Increased investment in infrastructure could stimulate growth in the construction sector.
- Sustainability initiatives might enhance the contribution of agriculture, forestry, and related activities.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 43.39 | 2016 | |
| 2 | 2 Mining, Manufacturing, Utilities | 24.95 | 2016 | |
| 3 | 3 Wholesale, retail trade, restaurants and hotels | 15.21 | 2016 | |
| 4 | 4 Transport, storage and communication | 10.04 | 2016 | |
| 5 | 5 Construction | 3.98 | 2016 | |
| 6 | 6 Agriculture, hunting, forestry, fishing | 2.43 | 2016 |
