GDP growth - Graph 1. Quarterly change in GDP, seasonally adjusted, 1994 to second quarter 2023 15.0%

GDP growth The GDP grew 0.6% in the second quarter of 2023, a slight improvement over the previous quarter and maintaining the return to pre-pandemic levels after the extraordinary drop in the second quarter of 2020. [...] The relatively sharp increase in investment likely results largely from the move to off-grid electricity in response to loadshedding. [...] Quarterly GDP in trillions of constant (2023) rand (a) from 2010 7.00 6.00 5.00 4.00 3.00 2.00 1.00 - 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 '23 Note: (a) Reflated using implicit GDP deflator rebased to first quarter 2023. [...] Growth by sector underscored the importance of investment in the year to the second quarter 2023. [...] Mining also recovered after a decline in the year to the second quarter 2022.