A sharp decline in South Africa’s agricultural performance in the third quarter of 2024 was reported by Stats SA, with a seasonally adjusted quarter-on-quarter decrease of 28.8%. While a decline was anticipated due to a challenging mid-summer drought, the extent of the decrease was surprising.
BFAP’s analysis indicates that the year-to-date (first three quarters of 2024) decline in real agricultural GDP should be between 5-6%, as opposed to the current official decline of 15.5%.
This publication provides an independent analysis of the GDP release by StatsSA and provides an alternative perspective to be considered. Download here to read the full article.
A media statement prepared by AgriSA, Agbiz and BFAP can be found here.