EXPLAINER | How SA's economy became R550bn bigger in a single day

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
0:00
play article
Subscribers can listen to this article
A more accurate picture of the SA economy will help investors better understand the environment they are investing in, according to an economist.
A more accurate picture of the SA economy will help investors better understand the environment they are investing in, according to an economist.
Hoberman Collection/Universal Images Group via Get

In a single day, the South African economy grew by a massive R550 billion. This is not by some magical stroke of luck – but due to technical changes in calculating the size of the economy.

On Wednesday, Statistics South Africa announced that, according to its new calculations, South Africa’s GDP in 2020 was R5.52 trillion – 11% larger than previously estimated.

This is the result of an overhaul of the way it calculates the gross domestic product, which measures all the activity in an economy in a single year.

Support independent journalism
Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
16.16
+0.7%
Rand - Pound
21.50
+0.3%
Rand - Euro
18.22
+0.3%
Rand - Aus dollar
11.52
+0.2%
Rand - Yen
0.14
+0.0%
Gold
1,782.85
-0.6%
Silver
22.81
-1.5%
Palladium
1,791.66
+2.3%
Platinum
951.34
-0.4%
Brent Crude
72.72
-11.6%
Top 40
63,601
+1.9%
All Share
70,009
+2.0%
Resource 10
65,581
+2.4%
Industrial 25
93,900
+1.1%
Financial 15
13,460
+3.6%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot