Source: world bank Nominal/PPP
Summary:
South Africa GDP Per Capita expanded from 1960 to 2024, increasing from $8.75 to $401.15 .The compound annual growth rate (CAGR) averaged 6.16% 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 32.99%, 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.
- High Growth (1961–1971) 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 (1986–1988) indicating robust economic expansion
- High Growth (1990–1992) indicating robust economic expansion
- Expansion (1993–1994) indicating steady moderate growth
- Contraction (1998–1999) indicating temporary slowdown
- High Growth (2003–2007) indicating robust economic expansion
- High Growth (2010–2011) indicating robust economic expansion
- Contraction (2012–2016) indicating temporary slowdown
- High Growth (2017–2018) indicating robust economic expansion
- Contraction (2022–2023) indicating temporary slowdown
- High Growth (2024–2024) indicating robust economic expansion
The most remarkable growth occurred in 2003 with an increase of 52.624%, while the largest decline was in 1985 at -24.049%.