Thursday, December 02, 2021

NEWS

South Africa’s economy grew 4,6 percent in first quarter of 2021

South Africa’s economy grew 4,6 percent in first quarter of 2021

Pretoria, Jun 9 (Prensa Latina) South Africa's Gross Domestic Product(GDP) grew at a year-on-year rate of 4.6 percent during first quarter 2021, Statistics South Africa(Stats SA), reported.
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Most economic activity was carried out by financial intermediation, auxiliary activities, real estate and other entrepreneurial services, the report noted.

The mining industry grew at a rate of 18.1 percent and added 1.2 percent to the GDP growth, according to the report.

Likewise, Stats SA reported an increase in metal production from the platinum group (PGM), iron and gold ore.

Trade, gastronomy and accommodation increased at a rate of 6.2 percent, thus contributing 0.8 percent to the GDP growth, the report said.

Transportation, communications and stocking grew at a rate of 4.8 percent, giving 0.4 percent to GDP growth.

The manufacturing industry grew 1.6 percent in the first quarter, contributing 0.2 percent to South Africa’s GDP growth.

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