ECSECC has published its Eastern Cape Economic Review report for the third quarter of 2022.
KEY FINDINGS FOR THE THIRD QUARTER OF
- Global economic performance is projected to grow by 3.2% in 2022.
The South African economy is forecasted by the IMF to grow by 2.1% by the
end of 2022.
- According to Stats SA national real gross domestic product (GDP)
grew at an annualised rate of 1.6% in the third quarter of 2022.
- The Eastern Cape economy expanded by 1.3%. The largest positive
contributors to provincial growth in GDP in the third quarter were
agriculture, transport and construction industries.
- The Eastern Cape GDP (at market prices) increased from R360.0
billion in 2022Q2 to R364.5 billion in 2022Q3.
- Provincial total gross value added (GVA) at basic prices amounted
to R330.7 billion in 2022Q3.