gross domestic product, q1:2017
TRANSCRIPT
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GDPQ1 2017
Gross domestic product, 1st quarter 2017Embargoed until: 6 June 2017, 11:30am
@StatsSA#GDP
GDPQ1 2017
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GDPQ1 2017
GDP (production)
GDPQ1 2017
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GDPQ1 2017
Real GDP
-0,7%in Q1 2017
(quarter-on-quarter)Seasonally adjusted and annualised
Real GDP
1,0%in Q1 2017(year-on-year)
Unadjusted
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GDPQ1 2017
Trade and manufacturing were the two major industries that contributed negatively to growth in Q1 2017Quarter-on-quarter, seasonally adjusted and annualised
GDP growth rates
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GDPQ1 2017
The primary sector contributed 1,3 percentage points to growth Q1 2017, on the back of higher growth in agriculture and miningThe last time the tertiary sector experienced negative growth was in second quarter of 2009Quarter-on-quarter, seasonally adjusted and annualised
14,9%
-3,4%-2,0%
Growth rates in various sectors
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GDPQ1 2017
0,4
0,9
0,0
-0,1
-0,2
0,0
-0,1
-0,5
-0,1
-0,8
GDP-0,7%
LHS: growth rates RHS: contributions
Quarter-on-quarter, seasonally adjusted and annualised
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GDPQ1 2017
Growth rates by sectorQuarter-on-quarter, seasonally adjusted and annualised, Q1 2017
On the back of eight consecutive quarterly contractions, agriculture rebounded largely from increased production of field crops and horticultural products
Agriculture
22,2%14,9% 12,8%
PRIMARY SECTOR
Mining
The rise in mining was a result of higher production of gold and ‘other’ metal ores (including platinum)
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GDPQ1 2017
Growth rates by sectorQuarter-on-quarter, seasonally adjusted and annualised, Q1 2017
The fall in manufacturing was a result of decreases in the production of food and beverages, andpetroleum and chemical products
Electricity
4,8%1,3%Construction3,4%
SECONDARY SECTOR
Manufacturing
3,7%
Decreased activities in non-residential buildings and construction works contributed to the decrease inconstruction
There was drop in electricity production. The amount of water distributed also fell, partly due waterrestrictions
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GDPQ1 2017
Growth rates by sectorQuarter-on-quarter, seasonally adjusted and annualised, Q1 2017
Declining levels of employment in local and provincial government largely led to a decline in general governmentservices
Trade
5,9%Transport
1,6%2,0%
TERTIARY SECTOR
Finance
1,2%Government
0,6%
Personal services
0,1%
Decreased economic activity was reported for wholesale, retail, catering and accommodation divisions,contributing to the fall in the trade industry
Transport declined due to lower economic activity in road and rail passenger transportation services
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GDPQ1 2017
Nominal GDP values for Q1 2017
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GDPQ1 2017
Nominal GDP estimated at R1 102 billion for Q1 2017, R17 billion less than Q4 2016
Trade was down by R16 billion to R148 billion
Mining was down by R14 billion to R72 billion
Manufacturing was down by R4 billion to R129 billion
Government was down by R2 billion to R170 billion
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GDPQ1 2017
Shares of nominal GDP
Q1 2017
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GDPQ1 2017
GDPQ3 2016
Expenditure on GDP
GDPQ1 2017
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GDPQ1 2017
Expenditure on GDP
-0,8%in Q1 2017
(quarter-on-quarter)Seasonally adjusted and annualised
Expenditure on GDP
0,1%in Q1 2017(year-on-year)
Constant 2010 prices
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GDPQ1 2017
HFCE and net exports were the main negative contributors to growth in Q1 2017 Quarter-on-quarter, seasonally adjusted and annualised
ExpenditureonGDPgrowthrates
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GDPQ1 2017
-0,9
0,2
-0,2
-1,4
-1,0
LHS: growth rates RHS: contributions
Change in inventories: R2 749 million (contribution of 2,5 percentage points)Quarter-on-quarter, seasonally adjusted, annualised
Expenditure on GDP: -0,8%
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GDPQ1 2017
Household final consumption
expenditure (HFCE)
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GDPQ1 2017
Household final consumption expenditure
-2,3%in Q1 2017
(quarter-on-quarter)Seasonally adjusted and annualised
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GDPQ1 2017
Quarter-on-quarter, seasonally adjusted and annualisedThe main negative contributors to growth in Q1 2017 were expenditure on food and non-alcoholic beverages, clothing and footwear and transport
HFCE growth rates
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GDPQ1 2017
0,6
0,2
0,2
0,1
0,0
-0,7
-0,3
-0,2
-0,7
-0,7
-0,3
-0,4
LHS: growth rates RHS: contributions
-2,3%
HFCE by purpose
Quarter-on-quarter, seasonally adjusted and annualised
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GDPQ1 2017
0,4
0,0
-1,0
LHS: growth rates RHS: contributions
-2,3%
HFCE by durability
Quarter-on-quarter, seasonally adjusted and annualised
-1,7
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GDPQ1 2017
Government final consumption
expenditure (GFCE)
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GDPQ1 2017
Government final consumption expenditure
-1,0%in Q1 2017
(quarter-on-quarter)Seasonally adjusted and annualised
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GDPQ1 2017
An decrease in employment numbers contributed to negative growth in Q1 2017Quarter-on-quarter, seasonally adjusted and annualised
GFCE growth rates
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GDPQ1 2017
Gross fixed capital formation (GFCF)
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GDPQ1 2017
Gross fixed capital formation
1,0%in Q1 2017
(quarter-on-quarter)Seasonally adjusted and annualised
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GDPQ1 2017
Spending on residential buildings and machinery and other equipment contributed positively to GFCF growth in Q1 2017Quarter-on-quarter, seasonally adjusted and annualised
GFCF growth rates
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GDPQ1 2017
0,6
0,9
2,5
0,1
-1,0
-0,8
-1,1
LHS: growth rates RHS: contributions
1,0%
GFCF by asset type
Quarter-on-quarter, seasonally adjusted and annualised
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GDPQ1 2017
Change in inventories
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GDPQ1 2017
Build up of inventories was reported for wholesale trade and transport, storage and communication industries Quarter-on-quarter, seasonally adjusted and annualised
Change in inventories(R million)
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GDPQ1 2017
Exports and Imports
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GDPQ1 2017
Exports of goods and services
-3,2%in Q1 2017
(quarter-on-quarter)
Imports of goods and services
3,2%in Q1 2017
(quarter-on-quarter)Seasonally adjusted and annualised Seasonally adjusted and annualised
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GDPQ1 2017
Exports of mineral products as well as exports of services were largely responsible for the increase in Q1 2017Quarter-on-quarter, seasonally adjusted and annualised
Exports growth rates
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GDPQ1 2017
Imports of mineral products were largely responsible for the increase in Q1 2017 Quarter-on-quarter, seasonally adjusted and annualised
Imports growth rates
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GDPQ1 2017
Recap
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GDPQ1 2017
Quarter-on-quarter, seasonally adjusted and annualised
GDP and expenditure on GDP growth rates
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GDPQ1 2017
Real GDP
-0,7%in Q1 2017
(quarter-on-quarter)Seasonally adjusted and annualised
Real GDP
1,0%in Q1 2017(year-on-year)
Unadjusted