Government says the 0.5% growth in gross domestic product (GDP) in the first quarter of this year demonstrates the resilience of the South African economy amid a challenging global and domestic environment.
According to Statistics South Africa’s (Stats SA) GDP report for the first quarter of 2026 (January to March), the growth marks a sixth consecutive quarter of expansion.
The Government Communication and Information System (GCIS) has welcomed this development, saying the economy maintained positive momentum, supported by growth in key sectors including finance, agriculture, trade, transport and communication.
The finance industry was the largest contributor to growth on the production side of the economy, expanding by 0.9% and contributing 0.2 percentage points to overall GDP growth.
Agriculture continued its strong performance, recording a sixth consecutive quarter of expansion and growing by 3.9%, driven by increased production in field crops and horticultural products, particularly fruit.
“Government recognises that more work is required to accelerate growth, create jobs and improve the lives of all South Africans. However, these results reflect continued progress and provide further evidence that measures to support economic recovery, investment and growth are contributing positively to the country's economic performance.
“Government, working with various stakeholders, will continue to focus on implementing structural reforms, attracting investment, supporting key economic sectors and creating an enabling environment for businesses to grow, invest and create employment opportunities,” the GCIS said on Tuesday. -SAnews.gov.za
