Economy of South Africa
Overview
South Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors; a stock exchange that ranks among the 10 largest in the world; and a modern infrastructure supporting an efficient distribution of goods to major urban centers throughout the region. However, growth has not been strong enough to lower South Africa's high unemployment rate, and daunting economic problems remain from the apartheid era - especially poverty and lack of economic empowerment among the disadvantaged groups. South African economic policy is fiscally conservative, but pragmatic, focusing on targeting inflation and liberalizing trade as means to increase job growth and household income.
GDP
Real Growth Rate
5%
Per Capita
USD 13,000
From Agriculture
3%
From Industry
30%
From Services
67%
Labour Force
Available for Work
16
Working in Agriculture
30%
Working in Industry
25%
Working in Services
45%
Unemployment Rate
26%
Population Below Poverty Line
0%
Inflation Rate
4%
Investment as Percent of GDP
17%
Budget
Revenues
USD 65,910 (m)
Expenditures
USD 70,620 (m)
Public Debt
US$ 0.00 (m)
Agricultural Products
Corn, wheat, sugarcane, fruits, vegetables; beef, poultry, mutton, wool, dairy products
Core Industries
Mining (world's largest producer of platinum, gold, chromium), automobile assembly, metalworking, machinery, textiles, iron and steel, chemicals, fertilizer, foodstuffs, commercial ship repair
Exports
Value
USD 50,910 (m)
Commodities
Gold, diamonds, platinum, other metals and minerals, machinery and equipment
Partners
UK 11.1%, US 9.1%, Japan 8.3%, Germany 6.3%, China 5.2%, Italy 4.5%
Imports
Value
USD 52,970 (m)
Commodities
Machinery and equipment, chemicals, petroleum products, scientific instruments, foodstuffs
Partners
Germany 14.9%, US 7%, China 6.9%, UK 6.8%, Saudi Arabia 6.5%, Japan 5.9%, Iran 5.8%, France 4.3% (2005)
External Debt
USD 29,970 (m)
Fiscal Year
1 April - 31 March
