World
South Africa: the economy in numbers
The economy grew 0.9% in Q2 2026; inflation was 4.3% in Jul 2026; the policy rate is 7.25%. Every reading tipsheet tracks for South Africa, with its history and what is usual for it. Readings South Africa does not publish openly are listed, not dropped.
Written for investors following South Africa from India.
Snapshot
The latest reading of each measure, the period it is for, the reading a year earlier and where today's sits in the economy's own history since 2000 (100 = the highest).
| Measure | Latest | Period | A year earlier | Percentile | Source |
|---|---|---|---|---|---|
| Real GDP growth | +0.9% | Q2 2026 | +1.0 | 24 | OECD |
| Industrial production | +0.9% | Jul 2026 | −1.8 | 47 | OECD |
| Retail sales volume | +2.8% | Jul 2026 | +5.4 | 52 | OECD |
| Exports, US$ | +21.7% | Jun 2026 | −1.6 | 78 | IMF (derived) |
| Leading indicator | 100.5 | Aug 2026 | 100.3 | 65 | OECD |
| Unemployment rate | 32.0% | Q2 2026 | 33.0 | 78 | ILOSTAT |
| Consumer price inflation | 4.3% | Jul 2026 | 3.5 | 29 | BIS |
| Core inflation (ex food and energy) | 3.4% | Dec 2024, stopped | 4.5 | 25 | OECD |
| Producer prices | +3.0% | Nov 2020, stopped | +2.3 | 27 | IMF (derived) |
| Policy rate | 7.25% | 28 Sep | 7.00 | 60 | BIS |
| 10-year government bond yield | 8.95% | Sep 2026 | 9.87 | 45 | OECD |
| Private credit and credit gap | −4.3 pp | Q1 2026 | −5.8 | 29 | BIS |
| Currency against the dollar, daily | +3.9% | 2 Oct | −0.1 | 70 | FRED (DEXSFUS) |
| Real effective exchange rate | 115.0 | Aug 2026 | 103.5 | 54 | BIS |
| Current account | US$ −1 bn | Q2 2026 | −3 | 78 | IMF (derived) |
| Trade balance | US$ +7 bn | Jun 2026 | +5 | 90 | IMF (derived) |
| FX reserves | +8.3% | Aug 2026 | +11.6 | 64 | IMF (derived) |
| Government debt, % of GDP | 79% | Q1 2026 | 77 | 98 | BIS |
| Budget balance, % of GDP | −4.4% | 2025 | −5.1 | 27 | OECD |
| House prices, real | +1.2% | Q2 2026 | +0.4 | 61 | BIS |
Not published openly and on time, so not shown: inflation expectations, money supply growth, stock market return.
Growth and jobs
Output, factories, shops, exports, the leading indicator and unemployment.
Real GDP growth: +0.9% in Q2 2026, down from +1.0 a year earlier
Shaded: the usual range (middle half of readings) since 2005.
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Industrial production: +0.9% in Jul 2026, up from −1.8 a year earlier
% on a year earlier. Shaded: the usual range (middle half of readings) since 2005.
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Retail sales volume: +2.8% in Jul 2026, down from +5.4 a year earlier
% on a year earlier. Shaded: the usual range (middle half of readings) since 2005.
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Exports, US$: +21.7% in Jun 2026, up from −1.6 a year earlier
% on a year earlier. Shaded: the usual range (middle half of readings) since 2005.
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Leading indicator: 100.5 in Aug 2026, up from 100.3 a year earlier
Shaded: the usual range (middle half of readings) since 2005.
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Unemployment rate: 32.0% in Q2 2026, down from 33.0 a year earlier
Shaded: the usual range (middle half of readings) since 2005.
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Prices
Consumer prices, the core measure without food and energy, producer prices and expected inflation.
Consumer price inflation: 4.3% in Jul 2026, up from 3.5 a year earlier
Shaded: the usual range (middle half of readings) since 2005.
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Core inflation (ex food and energy): 3.4% in Dec 2024 (series stopped)
Shaded: the usual range (middle half of readings) since 2005.
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Producer prices: +3.0% in Nov 2020 (series stopped)
% on a year earlier. Shaded: the usual range (middle half of readings) since 2005.
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Interest rates and money
The central bank's rate, the government's borrowing cost, the central bank's balance sheet, money and credit.
Policy rate: 7.25% on 28 Sep, up from 7.00 a year earlier
Shaded: the usual range (middle half of readings) since 2005.
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10-year government bond yield: 8.95% in Sep 2026, down from 9.87 a year earlier
Shaded: the usual range (middle half of readings) since 2005.
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Private credit and credit gap: −4.3 pp in Q1 2026, up from −5.8 a year earlier
Shaded: the usual range (middle half of readings) since 2005.
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The currency and the stock market
The currency's value in dollars over a year, its real trade-weighted value, and the stock market's one-year return.
Currency against the dollar, daily: +3.9% on 2 Oct, up from −0.1 a year earlier
Shaded: the usual range (middle half of readings) since 2005.
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Real effective exchange rate: 115.0 in Aug 2026, up from 103.5 a year earlier
Shaded: the usual range (middle half of readings) since 2005.
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Trade, reserves and the government
What the economy earns from the world, its reserves, its government's debt and deficit, and house prices.
Current account: US$ −1 bn in Q2 2026, up from −3 a year earlier
US$ billion, summed over the last 12 months (or 4 quarters). Shaded: the usual range (middle half of readings) since 2005.
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Trade balance: US$ +7 bn in Jun 2026, up from +5 a year earlier
US$ billion, summed over the last 12 months (or 4 quarters). Shaded: the usual range (middle half of readings) since 2005.
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FX reserves: +8.3% in Aug 2026, down from +11.6 a year earlier
% on a year earlier. Shaded: the usual range (middle half of readings) since 2005.
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Government debt, % of GDP: 79% in Q1 2026, up from 77 a year earlier
Shaded: the usual range (middle half of readings) since 2005.
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Budget balance, % of GDP: −4.4% on 2025, up from −5.1 a year earlier
Shaded: the usual range (middle half of readings) since 2005.
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House prices, real: +1.2% in Q2 2026, up from +0.4 a year earlier
Shaded: the usual range (middle half of readings) since 2005.
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The workings
The question
Data
Every chart has a table view, a CSV download and a link to its published JSON. Bundles are listed in data status.