The South African economy barely missed going into a recession in the fourth quarter of 2023. Economists define a recession as two or more quarters of negative growth. According to Stats SA, the economy grew by 0,1% in the fourth quarter after the 0,2% negative growth recorded in the third quarter of 2023. The growth figures quoted by Stats SA are calculated by comparing the seasonally adjusted gross domestic product (GDP) in a quarter with the previous quarter and then converting it into an annual figure. This method overemphasises change in GDP growth. Fortunately, Stats SA also publishes GDP growth figures based on a comparison of the GDP in a quarter with the same quarter in the previous year. According to this comparison, the economy grew in real terms by 1,2% in the fourth quarter of 2023 and by 0,6% in 2023. Growth rates in industry value-added and GDP in 2023 are shown in the table.
It paints a bleak picture for the economy, especially in terms of the primary industries. In spite of the congestion at the export harbours, the mining sector still managed to grow in the third quarter of 2023.
AGRICULTURE IN CRISIS
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New farmers' seedling pitfalls
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South African avocado production: a success story
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Unlocking value through livestock exports
Exporting livestock might sound like a daunting business that's better left for big companies, but Gerrie Ferreira, who farms near Oudtshoorn in the Western Cape, has been doing it successfully for almost 30 years, sometimes in partnership with other breeders. He spoke to Glenneis Kriel about the huge potential this market holds, and offers some advice for farmers who are contemplating going this route.
An agribusiness's dedication to community upliftment
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Since its launch in 2013, the Agri's Got Talent competition has revolutionised the lives of many farmworkers by unlocking their hidden talents and fostering a culture of empowerment. Glenneis Kriel spoke to various finalists about how the contest has changed their lives.
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While the 2024 Conference of the Parties may have disappointed those who hoped for real progress, it's more important for South African agriculture to highlight its role in carbon mitigation
Improving efficiencies in feed and grain milling
BÃŒhler, a Swiss-based company that provides solutions and equipment for various industries, including food and animal feed processing, has pledged that by 2025, it will deliver scalable solutions that will reduce energy, waste and water by 50% in the value chains of its customers.
Tips for better olive production
At an SA Olive Association field day in November, industry experts shared ways to improve olive production efficiencies, from soil preparation to harvesting.
More effort needed to protect vulnerable cheetah
On International Cheetah Day, commemorated every year on 4 December, emphasis was placed on the vulnerability of the species.
