The agricultural sector grew by 4.2% in the second quarter of 2023. Photo: iStock
Minister of Agriculture, Land Reform and Rural Development, Thoko Didiza, has welcomed the latest figures released by Statistics SA on the Gross Domestic Product (GDP) for the second quarter of 2023, showing that the agricultural sector was once again one of the biggest contributors to the country’s economic growth.
Didiza said this growth signified the importance and influence of the sector in South Africa’s economy.
“The agricultural sector grew by 4.2% in the second quarter of 2023, fuelled largely by a good summer harvest of grains and oilseeds commodities coupled with solid horticultural exports.” said Didiza.
“In the second quarter of 2023, South Africa exported agricultural products worth R60.2 billion, which is almost 13% higher than the corresponding period last year,” Didiza added.
Didiza said the country was expecting to harvest 16.4 million tons of maize and about 743 000 tons of sunflower. Such a good harvest would likely address food inflation, she said.
“This is a crop size that will bode well for consumers, as food inflation will subside. Already in July, food inflation had receded to 9.9% providing a much-needed relief to consumers.
“The growth in agriculture and its contribution to the country’s economy can be attributed to the increasing footprint of South Africa’s agricultural products in the international markets” said Didiza.
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Didiza said the growth had underscored government‘s decision to invest resources into opening new export markets while maintaining trade relations with existing ones.
In August, Didiza secured new export markets for avocados, beef, and other animal products to countries such as Saudi Arabia and China.
“The drive to open new export opportunities will continue as the government strives to grow a competitive, resilient, and export-oriented agriculture,” Didiza said.
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