GDP grew by 1.9% last year

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IOL economy arrows Filomena Scalise

Cape Town - South Africa's economy grew by 1.9 percent in real terms last year compared to 2.5 percent in 2012, Statistics SA (Stats SA) said on Tuesday.

During 2013, goods and services to the estimated value of R3.4 trillion were produced, which was R246 billion more than the previous year.

Finance, real estate and business services contributed the most to the economy at 0.5 percent.

The wholesale, retail and motor trade contributed 0.3 percent, as did the catering and accommodation industry.

The mining and quarrying industry; storage and communication industry, and general government services each contributed 0.2 percent.

Finance, real estate, and business services expanded by R54bn to R652bn, and accounted for 21.5 percent of the economy.

General government services expanded by R52bn to R518bn, accounting for 17.1 percent of the economy.

The wholesale, retail and motor trade, and catering and accommodation industry expanded by R47bn to R502bn, contributing 16.6 percent of the economy.

The manufacturing industry made up 11.6 percent of the economy.

In the fourth quarter of last year, the real gross domestic product (GDP) grew by 3.8 percent - from 0.7 percent growth in the previous quarter. - Sapa


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