South Africa Moves GDP Base Year from 2015 to 2022
Key Facts
Statistics South Africa said rebased and benchmarked gross domestic product estimates will be released in Pretoria on 29 October 2026, alongside revised regional GDP estimates. The agency said the 2026 rebasing changed the reference year from 2015 to 2022. This updates how national accounts estimates at constant prices are presented; it is not an announcement of new economic growth. The process also includes a review of the data, classifications and methodologies used in benchmarking. The release comes as official data showed real GDP contracted in the second quarter of the year.
The agency explains that rebasing involves changing the reference year used in national accounts estimates at constant prices, while benchmarking extends to improving data, classifications and methodologies. It said 2022 was chosen instead of 2020 because the COVID-19 pandemic made that year unusual. The agency described 2022 as a relatively stable year and therefore adopted it as the new reference year. Updating the reference year allows estimates to be presented on a year selected for this purpose, while benchmarking includes broader adjustments to national accounts inputs. The process distinguishes a change in the measurement base from actual changes in economic activity from one period to another.
GDP rebasing and benchmarking are conducted every 5 years, according to Statistics South Africa. South Africa released the results of its previous review in 2021, placing the 2026 release within the periodic cycle described by the agency. The process aims to update GDP estimates using a new reference year, alongside a review of data, classifications and methodologies. Rebasing does not in itself mean the economy recorded additional output during the period covered by the figures. Its results are read as an update to national accounts estimates, while quarterly growth rates remain a separate indicator of changes in activity.
South Africa's real GDP fell 0.2% in the second quarter of 2026, after rising 0.4% in the first quarter, according to agency data. This quarterly sequence provides a backdrop on economic activity ahead of the release of rebased estimates, but does not by itself explain the effect of changing the reference year. The agency is scheduled to release GDP data for the third quarter ended September on 1 December 2026. This follows the release of revised estimates on 29 October and is the next announced GDP data release of the year. The forthcoming release will provide a subsequent quarterly reading of economic activity under the agency's publication schedule.