Services Sector Contribution to GDP in South Africa (1990-2022)

South Africa’s services sector has shown steady growth, reflecting its shift towards a more diversified, service-driven economy. From 52.4% in 1990, services steadily increased, reaching 60% in 1997 as the country stabilized post-apartheid, fostering growth in financial services, tourism, and retail. The contribution climbed further to 63.5% in 2006, highlighting the sector’s resilience amid global market shifts. The 2008 global financial crisis led to a temporary dip, but by 2009, the services sector had rebounded to 63.6%, and it continued to hover around 64% through 2019, underscoring its role in economic stability. In 2020, the sector saw a slight increase to 64.6% during the COVID-19 pandemic as demand for healthcare and public services grew, but then fell to 62.9% in 2021 as restrictions eased. This trend emphasizes the sector's essential role in maintaining economic stability and job creation amidst fluctuating global and domestic conditions.