ECS2603 ASSIGNMENT 1
FOR SEMESTER 2
YEAR: 2025
DUE: 15 AUGUST 2025
UNIQUE NUMBER: 870653
FEND TUTORIALS
, Report of South Africa GDP Growth Analysis (2013–2023)
1. Introduction
Gross Domestic Product (GDP) growth measures the rate at which a country’s economy
is expanding or contracting. It is a key indicator of economic health, reflecting changes
in production, investment, consumption, and trade. This report examines South Africa’s
GDP growth performance from 2013 to 2023, highlighting economic trends, key events,
and the challenges that shaped the country’s growth path.
2. GDP Growth Trends (2013–2023)
The following graph illustrates South Africa’s GDP growth rate (%) for the period 2013
to 2023.
3. Year-by-Year Analysis
GDP Growth
Year Key Drivers / Events
(%)
2013 2.5% Stable commodity exports; moderate consumer spending.
2014 1.8% Mining strikes, electricity shortages from Eskom load-shedding.
2015 1.2% Global commodity price decline, weak demand from China.
2016 0.4% Severe drought affecting agriculture, political instability.
2017 1.4% Modest recovery from agriculture rebound; investor caution.
2018 0.8% Technical recession in first half, weak investment climate.
2019 0.1% Declining manufacturing output; persistent load-shedding.
COVID-19 pandemic lockdowns causing severe economic
2020 -6.3%
contraction.
2021 4.9% Post-pandemic rebound in trade, manufacturing, and services.
Slowdown due to floods, continued power outages, global
2022 2.1%
inflation.
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