Agri growth helps SA out of recession
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Positive performance in the agricultural sector in the third quarter (Q3) of 2018 has helped lift South Africa’s economy out of a technical recession.
Positive performance in the agricultural sector in the third quarter (Q3) of 2018 has helped lift South Africa’s economy out of a technical recession.
Stats SA said in its Q3 GDP release that South Africa’s economy grew 2,2% quarter-on-quarter (q/q), bringing to an end the country’s second recession since 1994.
A number of sectors apart from agriculture had contributed to the growth; these included manufacturing (the main driver with growth of 7,5%), transport and finance and business services.
“The agriculture industry bounced back from two consecutive quarters of negative growth to record a 6,5% rise in the third quarter,” Stats SA said.
This was largely attributed to strong growth in the production of field crops, horticultural cultivation and animal products.
Agri SA’s Head of Economics and Trade, Dr Requier Wait, welcomed the growth.
“It’s really positive that the sector still did well amid many challenges,” he said.
Read the full article at farmersweekly.co.za
