Agricultural sector contribution to South Africa’s Gross Domestic Product (GDP)

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.

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