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Eastern Cape Socio-Economic Consultative Council

Eastern Cape economy expand by 1.3% in 2022Q3

Published: February 03, 2023

ECSECC has published its Eastern Cape Economic Review report for the third quarter of 2022.

KEY FINDINGS FOR THE THIRD QUARTER OF 2022

  • 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.
You can read our Economic Review report on this link:https://www.ecsecc.org/datarepository/documents/ecsecc-q3-22-report_dL3cQ.pdf



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