IMPROVING LIVES THROUGH DATA ECOSYSTEMS

Statistics South Africa (Stats SA) has published updated estimates of gross domestic product (GDP) as a result of a comprehensive project to benchmark and rebase the statistics. This is aligned with international best practice to periodically review and update the estimates of the size, structure and performance of the economy. During this process, Stats SA included new sources of information, improved the compilation methodology, reviewed and refined the classification of economic activities, and updated the reference year from 2010 to 2015.

The revised estimate of GDP in 2020 is R5 521 billion, an increase of 11% compared with the previous estimate of R4 973 billion. The annual growth rate for 2020 was revised from -7,0% to -6,4%.