South Africa Gold Production y/y
| Low | -7.6% | -4.4% |
1.0%
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| Last release | Importance | Actual | Forecast |
Previous
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| -4.6% |
-7.6%
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| Next release | Actual | Forecast |
Previous
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Gold Production y/y measures a change in the physical volume of production of South Africa's gold mining industry in the reported month compared to the same month a year ago.
Every month Statistics South Africa publishes mining and sales indices based on data provided by the Department of Mineral Resources. To obtain information on mining, the Department interviews mining companies registered in South Africa.
The Republic of South Africa is among the top five gold miner countries, although the production curve has been declining for the last few years. A mining record was set in 1970, when the mined gold volume amounted to 1,000 tons.
Gold mining is an important component of South African economy, which makes a significant contribution to country's GDP and an important source of employment. Production data is used to estimate GDP and its components, which, in turn, are used to monitor government policy. Gold production growth is favorable for the national economy and can be seen as positive for the ZAR quotes.
Last values:
actual data
forecast
The chart of the entire available history of the "South Africa Gold Production y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
