- A Small Font
- A Medium Font
- A Bigger Font
The International Monetary Fund (IMF) recorded South Africa's Purchasing Power Parity (PPP) GDP in 2024 as 7.42 units. This figure shows an increase compared to 2023, which was 7.31 units. This increase indicates economic growth, although not significant.
Historically, South Africa's PPP GDP shows an upward trend from 2015 to 2024. In 2015, its value was 5.84 units, then increased to 7.42 units in 2024. The highest growth occurred in 2018 at 6.89%, while the lowest growth occurred in 2022 with a contraction of 1.99%.
The unit in the data presented in this article is the result of the IMF's calculation of the nominal GDP value of South Africa's national currency against the international dollar. In its publication, the IMF mentions that the calculation is used for the purpose of compiling a composite group of countries. This resulting data is not considered the primary source for presenting purchasing power parity (PPP) data.
In the last three years (2022-2024), South Africa's PPP GDP fluctuated. It experienced a contraction in 2022, then grew by 1.16% in 2023, and increased again by 1.39% in 2024. The average growth over the last three years shows an economic recovery after the contraction.
Compared to the average growth of the last five years, the growth of the last three years is lower. The five-year growth includes periods with higher growth in 2018 and 2019. This condition indicates a slowdown in economic growth in recent years.
The IMF projects that South Africa's PPP GDP will continue to increase until 2030. In 2025, the projection is 7.491 units with growth of 1.02%. The highest projected growth is expected in 2027 at 2.61%. This projection shows the expectation of economic improvement in the future, although the expected growth is not very significant.
In regional comparison, South Africa's ranking has changed. In 2024, its rank was 38, slightly down from previous years, which generally ranked 37. Compared to other countries in Africa, Somalia has the lowest PPP GDP value at 0.399.
Overall, South Africa's PPP GDP shows an upward trend, but with a slowing growth rate in recent years. Future projections show the expectation of improvement, but the slowdown in economic growth compared to previous periods needs to be heeded.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
Related Data
Latest Data Stories
Trending Topics
Popular Data