Commodity Market Analytics News

Perspectives on Agriculture’s GDP performance in Q3 2020

South Africa’s seasonally adjusted and annualised GDP increased by 66.1% in the third quarter of 2020, owing to the easing of Covid-19 restrictions. Although this represents a major recovery, following a 51.7% decline in quarter 2, overall growth for the first 3 quarters of 2020 remains subdued with a -7.9% contraction compared to the first 3 quarters of 2019. The agricultural sector’s GDP continues to increase (9.5% year-on-year). Specific sectors driving this increase are discussed in this one-pager.