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Agriculture gains not enough to save economy

Business News 6 months ago

The agriculture sector may have been SA’s only shining light’ economically, finding new markets and increasing exports, but it won’t be able to save us, since it is too small and South Africa was in trouble long before the impact of the Covid-19 lockdown.


09 Sep 2020
PREMIUM!
Agriculture gains not enough to save economy

Image: iStock

As South Africa’s “only shining light” in the second quarter, the agricultural sector has fought the odds, but the economy cannot be saved by this alone, according to agricultural economist Wandile Sihlobo. Statistics South Africa reported this week that the gross domestic product (GDP) fell by just over 16% between the first and second quarters of 2020, giving an annualised growth rate of 51%. By contrast, the agricultural sector is the only industry that seems relatively unaffected by Covid-19’s fierce scourge on the economy. The agency attributes the growth to an increase in maize exports, as well as rising international...

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