In the third quarter, real GDP increased 2.1 percent. The Gross Domestic Product (GDP) in South Africa was worth 351.43 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. That compared with an increase of 2.2 percent during 2018.
The decline is the same as in the “second” estimate released in May. An official website of the United States governmentThe GDP estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see “Source Data for the Advance Estimate” on page 3). It includes output in the manufacturing (the largest component of production), mining and quarrying, energy supply, and water supply and waste management industries.Services are activities that people, or businesses provide for a consumer or other businesses. Quarterly economic activity within the countries of the UK (England, Wales, Scotland and Northern Ireland) and the nine English regions (North East, North West, Yorkshire and The Humber, East Midlands, West Midlands, East of England, London, South East, and South West). For example, in the extent to which VAT data is used in the compilation of these estimates.These estimates aim to produce the best estimates at a subnational level. Annual updates generally cover at least the 5 most recent calendar years (and their associated quarters) and incorporate newly available major annual source data as well as some changes in methods and definitions to improve the accounts. Comprehensive (or benchmark) updates are carried out at about 5-year intervals and incorporate major periodic source data, as well as major conceptual improvements.Unlike GDP, an advance current quarterly estimate of GDI is not released because data on domestic profits and on net interest of domestic industries are not available. In Quarter 4 (Oct to Dec) 2019, Scotland and Northern Ireland showed positive growth at 0.2%, while England and Wales showed negative growth at 0.1% and 1.0% respectively.Wales' growth in Quarter 4 (Oct to Dec) 2019 was negative 1.0%; this offsets the rise in Quarter 3 (July to Sept) of 0.7%.Of the nine English regions, the highest growth in Quarter 4 (Oct to Dec) 2019 was the South West with 0.8%.London showed the largest positive growth in gross domestic product (GDP) in Quarter 4 (Oct to Dec) 2019 when compared with the same quarter a year earlier, at 5.0%; this was more than double any other region.Estimates for Scotland and Northern Ireland in this release are consistent with those published by the Scottish Government and the Northern Ireland Statistics and Research Agency (NISRA) respectively.Data presented for Quarter 1 (Jan to March) 2012 onwards are consistent with the These estimates are designated as During the coronavirus (COVID-19) pandemic, we are working to ensure that we continue to publish GDP, UK regions and countries. The "second" estimate for the fourth quarter, based on more complete data, will be released on February 27, 2020.The increase in real GDP in 2019 reflected positive contributions from PCE, nonresidential fixed investment, federal government spending, state and local government spending, and private inventory investment that were partly offset by negative contributions from residential fixed investment. The PCE price index increased 1.5 percent, compared with an increase of 1.9 percent. These were London at 5.0%, the South West at 1.1% and Yorkshire and The Humber at 1.0%. The GDP value of the United States represents 17.65 percent of the world economy. The GDP value of South Africa represents 0.29 percent of the world economy. This publication includes Gross domestic product (GDP) for Scotland (first estimate) for Quarter 4 (Oct to Dec) 2019 ), produced by the Scottish Government.
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