South Africa's GDP up by 1.2% in fourth quarter
Statistics South Africa has announced that the country's economy grew by 1.2% in the fourth quarter of 2021.
However, the economy is 1.8% smaller than it was in the first quarter of 2020.
In a statement released on Tuesday morning, it says the fourth quarter of 2021 has been upbeat.
Key drivers of economic growth included personal services, trade, manufacturing, and agriculture.
The increase in demand for goods and services drove up the expenditures side in the economy, with exports and household expenditure being the greatest contributors.
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The announcement seems to be in line with projections by economist Dawie Roodt, who had anticipated the country's economic performance this year will be significantly better than last year.
Roodt says this is due to the country experiencing a favourable commodity cycle.
"The mining sector in South Africa is going particularly well while the agricultural sector also did quite well.
But I think that perhaps will give us a false sense of how well things are going in the South African economy, because actually if you smooth the data out over time, you will find that South Africa's economic performance is well below where is it supposed to be.
"Nevertheless, quite a good economic growth that can be expected for 2021."