SA agriculture rebounds in Q1

Bizcommunity said this was a big improvement after agriculture GDP dropped by a revised -4.8% q/q in the last quarter of last year, and by -12.2% for the 2023 year. In contrast, the overall South African GDP contracted by 0.1% quarter-on-quarter in Q1, following an upwardly revised 0.3% (previously 0.1% quarter-on-quarter) at the end of last year.

Agriculture rebounded despite the El Nino-induced heat wave that severely reduced summer grain crops, power cuts and port delays that hindered the flow of deciduous fruit to export markets.

“A combination of solid output in horticulture and livestock and animal products underpinned this impressive agriculture performance. Early indicators of a potential rebound were robust agriculture exports which lifted by 6% year-on-year in Q1 to US$3.1bn according to the recent data from Trade Map,” Bizzcommunity said.