South Africa’s economy bounced back in the third quarter (July to September) of 2020, coinciding with the easing of corona virus (COVID-19) lockdown restrictions. Gross Domestic Product (GDP) grew by an estimated 13,5% in the third quarter, giving an annualised growth rate of 66,1%. This follows the significant slump of 16,6% (annualised: -51,7%) in the second quarter (April to June) of 2020 during the most restrictive months of the lockdown (April, May and June). Since the first quarter of 2020, agricultural sector has been a positive contributor to the country’s GDP growth with an increase of 28.6%, becoming the strongest performer (15.1%) in the second quarter of 2020 despite the unpleasant conditions of COVID-19 pandemic. Agriculture continued to increase at a rate of 18,5% in the quarter of 2020.
https://www.namc.co.za/wp-content/uploads/2019/08/NEW-LOGO-3.jpg 0 0 Bongani Radebe https://www.namc.co.za/wp-content/uploads/2019/08/NEW-LOGO-3.jpg Bongani Radebe2020-12-09 11:03:552020-12-09 11:03:56Agricultural sector contribution to South Africa’s Gross Domestic Product (GDP)