Source: world bank Nominal/PPP
Summary:
South Africa GDP Per Capita expanded from 1960 to 2024, increasing from $532.15 to $6,267.19 .The compound annual growth rate (CAGR) averaged 3.93% over the period. The economy recorded its peak level in 2011 and its lowest level in 1960. Growth volatility remained high. The maximum drawdown reached 39.68%, indicating the largest cyclical decline from peak levels. The country experienced 10 recession episode(s) during the observed period.
South Africa Economic Phases (1960 - 2024)
From 1960 to 2024, South Africa economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- Expansion (1961–1962) indicating steady moderate growth
- High Growth (1963–1967) indicating robust economic expansion
- High Growth (1969–1971) indicating robust economic expansion
- High Growth (1973–1974) indicating robust economic expansion
- High Growth (1977–1980) indicating robust economic expansion
- Crisis (1984–1985) indicating severe economic downturn
- High Growth (1986–1987) indicating robust economic expansion
- Expansion (1988–1989) indicating steady moderate growth
- Contraction (1999–2000) indicating temporary slowdown
- High Growth (2003–2005) indicating robust economic expansion
- High Growth (2010–2011) indicating robust economic expansion
- Contraction (2012–2014) indicating temporary slowdown
- Contraction (2022–2023) indicating temporary slowdown
- Expansion (2024–2024) indicating steady moderate growth
The most remarkable growth occurred in 2003 with an increase of 51.111%, while the largest decline was in 1985 at -26.54%.