South Africa’s GDP per capita has grown in 21 of the past 24 years, climbing to a record high in 2024

Key Takeaways

  • South Africa’s GDP per capita rose from $440 in 2000 to an all-time high of $2,692 in 2024.
  • Growth was relatively steady in the 2000s, with notable jumps after 2006 and again in the post-pandemic years.
  • Despite dips in 2008 (global financial crisis) and 2020 (COVID-19 shock), the economy showed resilience with quick rebounds.
  • By 2024, South Africa achieved its strongest per capita GDP on record, cementing its role as one of Africa’s leading middle-income economies.
  • The country recorded growth in 21 of the past 24 years.

South Africa’s GDP per capita has followed a strong, long-term, upward trend, expanding more than fivefold from $440 in 2000 to a record $2,692 in 2024. The 2000s marked a period of steady growth, briefly interrupted by the 2008 global financial crisis, after which the economy regained momentum.

A second setback came in 2020 during the pandemic, but recovery was swift, with per capita income climbing sharply in the early 2020s. By 2024, South Africa not only reached its highest level on record but also reinforced its position as one of Africa’s top three economies by per capita output, reflecting structural resilience and gradual progress despite recurring global and domestic headwinds.

Source:

World Bank

Period:

2000 - 2024
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