South Africa | GDP (current US$)

GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Limitations and exceptions: Gross domestic product (GDP), though widely tracked, may not always be the most relevant summary of aggregated economic performance for all economies, especially when production occurs at the expense of consuming capital stock. While GDP estimates based on the production approach are generally more reliable than estimates compiled from the income or expenditure side, different countries use different definitions, methods, and reporting standards. World Bank staff review the quality of national accounts data and sometimes make adjustments to improve consistency with international guidelines. Nevertheless, significant discrepancies remain between international standards and actual practice. Many statistical offices, especially those in developing countries, face severe limitations in the resources, time, training, and budgets required to produce reliable and comprehensive series of national accounts statistics. Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money. Statistical concept and methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.
Publisher
The World Bank
Origin
Republic of South Africa
Records
63
Source
South Africa | GDP (current US$)
1960 8748596500.5614
1961 9225996309.6015
1962 9813996074.4016
1963 10854195658.322
1964 11955995217.602
1965 13068994772.402
1966 14211394315.442
1967 15821393671.442
1968 17124793150.083
1969 19256992297.203
1970 21218391512.643
1971 23411076638.279
1972 24515919216.885
1973 33262772008.145
1974 41389186094.599
1975 42906905672.42
1976 41150460287.615
1977 45328411332.103
1978 51607412901.853
1979 63038658088.912
1980 89411864402.427
1981 93141472163.76
1982 85904057409.359
1983 96204110941.567
1984 84870163365.931
1985 64459376086.688
1986 73354771399.263
1987 96535763418.373
1988 103976831870.96
1989 108055624081.81
1990 126048140141.87
1991 135203698237.98
1992 146956150986.64
1993 147194747565.75
1994 153512712381.84
1995 171735933897.33
1996 163234925380.56
1997 168978057327.73
1998 152982984557.23
1999 151516957078.54
2000 151752757215.31
2001 135429905922.53
2002 129087556612.45
2003 197018965308.7
2004 255806908594.57
2005 288867217196.53
2006 303858675363.64
2007 333077117253.68
2008 316131258616.31
2009 329754060647.13
2010 417363822801.71
2011 458199494830.83
2012 434400545085.81
2013 400886013595.57
2014 381198869776.11
2015 346709790458.56
2016 323585509674.48
2017 381448814654.62
2018 405260723892.87
2019 389330032221.07
2020 338291396025.96
2021 420117812463.84
2022 405270850099.39

South Africa | GDP (current US$)

GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Limitations and exceptions: Gross domestic product (GDP), though widely tracked, may not always be the most relevant summary of aggregated economic performance for all economies, especially when production occurs at the expense of consuming capital stock. While GDP estimates based on the production approach are generally more reliable than estimates compiled from the income or expenditure side, different countries use different definitions, methods, and reporting standards. World Bank staff review the quality of national accounts data and sometimes make adjustments to improve consistency with international guidelines. Nevertheless, significant discrepancies remain between international standards and actual practice. Many statistical offices, especially those in developing countries, face severe limitations in the resources, time, training, and budgets required to produce reliable and comprehensive series of national accounts statistics. Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money. Statistical concept and methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.
Publisher
The World Bank
Origin
Republic of South Africa
Records
63
Source