ECS2603
Assignment 2
Unique No:870653
Due 15 August 2025
, Question 1 – Comparative Analysis of Economic Growth in South Africa and Sub-Saharan
Africa (2013–2023)
1. Introduction
Monitoring economic growth is a key tool for assessing a country’s economic health. It
provides insights for policymaking, affects investor confidence, and reflects changes in
the production of goods and services over time. In South Africa (SA) and across Sub-
Saharan Africa (SSA), real GDP growth rates are commonly used to evaluate economic
performance. These rates are adjusted for inflation, providing a clearer understanding of
whether the economy is truly expanding or contracting (World Bank, 2025).
2. GDP Growth Rates: South Africa vs Sub-Saharan Africa (2013–2023)
Year South Africa (%) Sub-Saharan Africa (%)
2013 1.4 5.17
2014 1.3 4.88
2015 0.7 2.87
2016 0.3 1.25
2017 1.2 2.50
2018 1.5 2.75
2019 0.3 2.67
2020 -6.3 -2.00
2021 4.9 4.33
2022 2.1 3.65
2023 0.6 2.80
Sources: Statistics South Africa (2024); World Bank (2025)
Assignment 2
Unique No:870653
Due 15 August 2025
, Question 1 – Comparative Analysis of Economic Growth in South Africa and Sub-Saharan
Africa (2013–2023)
1. Introduction
Monitoring economic growth is a key tool for assessing a country’s economic health. It
provides insights for policymaking, affects investor confidence, and reflects changes in
the production of goods and services over time. In South Africa (SA) and across Sub-
Saharan Africa (SSA), real GDP growth rates are commonly used to evaluate economic
performance. These rates are adjusted for inflation, providing a clearer understanding of
whether the economy is truly expanding or contracting (World Bank, 2025).
2. GDP Growth Rates: South Africa vs Sub-Saharan Africa (2013–2023)
Year South Africa (%) Sub-Saharan Africa (%)
2013 1.4 5.17
2014 1.3 4.88
2015 0.7 2.87
2016 0.3 1.25
2017 1.2 2.50
2018 1.5 2.75
2019 0.3 2.67
2020 -6.3 -2.00
2021 4.9 4.33
2022 2.1 3.65
2023 0.6 2.80
Sources: Statistics South Africa (2024); World Bank (2025)
