GDP & Economy

South Africa's real GDP grew 0.4% quarter-on-quarter in Q4 2025, seasonally adjusted and annualised, above expectations of 0.3%. This marked the fifth consecutive quarter of expansion. Finance led growth (+1.4%), while manufacturing was the largest drag (-0.6%). For the full year 2025, GDP rose 1.1% — the strongest annual growth since 2022.

South Africa's real GDP grew 1.1% for the full year 2025, the strongest annual rate since 2022. Growth was broad-based despite ongoing headwinds from high borrowing costs and slow global demand. Manufacturing registered its second year of negative growth; construction posted its ninth straight year of decline.

South Africa's nominal GDP for 2025 at current prices. Nominal growth reflects both real output and price-level changes. The economy remains the second largest in Africa by nominal GDP, behind Nigeria.

Nominal GDP per capita for 2025 at current prices, estimated from nominal GDP and mid-year population. In USD terms at average 2025 exchange rates (~R18.60/$), this is approximately $6,500 per person.

The repurchase (repo) rate is the benchmark interest rate set by the South African Reserve Bank's Monetary Policy Committee (MPC). It is the rate at which the SARB lends short-term money to commercial banks and is the primary instrument of inflation targeting.

The prime lending rate is the benchmark rate at which commercial banks lend to their most creditworthy clients. It is conventionally set at repo rate + 3.5 percentage points. Most consumer and business loans are priced relative to prime.