unbekannter Gast

South Africa: Economy#

South Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors and a stock exchange that is the 16th largest in the world. Even though the country's modern infrastructure supports a relatively efficient distribution of goods to major urban centers throughout the region, unstable electricity supplies retard growth. The global financial crisis reduced commodity prices and world demand. GDP fell nearly 2% in 2009 but has recovered since then, albeit slowly with 2014 growth projected at about 2%. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is at nearly 25% of the work force, and runs significantly higher among black youth. Eskom, the state-run power company, has built two new power stations and installed new power demand management programs to improve power grid reliability. Construction delays at two additional plants, however, mean South Africa is operating on a razor thin margin; economists judge that growth cannot exceed 3% until those plants come on line. South Africa's economic policy has focused on controlling inflation, however, the country has had significant budget deficits that restrict its ability to deal with pressing economic problems. The current government faces growing pressure from special interest groups to use state-owned enterprises to deliver basic services to low-income areas and to increase job growth.

Economic Facts#

GDP (purchasing power parity)$595.7 billion (2013 est.)
$584 billion (2012 est.)
$569.5 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate2% (2013 est.)
2.5% (2012 est.)
3.5% (2011 est.)
GDP - per capita (PPP)$11,500 (2013 est.)
$11,400 (2012 est.)
$11,300 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 2.6%
industry: 29%
services: 68.4% (2013 est.)
Population below poverty line31.3% (2009 est.)
Household income or consumption by percentage sharelowest 10%: 1.2%
highest 10%: 51.7% (2009 est.)
Labor force - by occupationagriculture: 9%
industry: 26%
services: 65% (2007 est.)
Exports - commoditiesgold, diamonds, platinum, other metals and minerals, machinery and equipment
Exports - partnersChina 11.8%, US 8.3%, Japan 6%, Germany 5.7%, India 4.2% (2012)
Agriculture - productscorn, wheat, sugarcane, fruits, vegetables; beef, poultry, mutton, wool, dairy products
Budgetrevenues: $88.53 billion
expenditures: $105.5 billion (2013 est.)
Imports - commoditiesmachinery and equipment, chemicals, petroleum products, scientific instruments, foodstuffs
Imports - partnersChina 14.4%, Germany 10.1%, Saudi Arabia 7.7%, US 7.4%, Japan 4.6%, India 4.5% (2012)
Exchange ratesrand (ZAR) per US dollar -
9.576 (2013 est.)
8.2031 (2012 est.)
7.3212 (2010 est.)
8.42 (2009)
7.9576 (2008)
Exports$91.05 billion (2013 est.)
$93.48 billion (2012 est.)
Debt - external$139 billion (31 December 2013 est.)
$130.4 billion (31 December 2012 est.)
Fiscal year1 April - 31 March
Imports$99.55 billion (2013 est.)
$102.6 billion (2012 est.)
Industrial production growth rate0.9% (2013 est.)
Industriesmining (world's largest producer of platinum, gold, chromium), automobile assembly, metalworking, machinery, textiles, iron and steel, chemicals, fertilizer, foodstuffs, commercial ship repair
Inflation rate (consumer prices)5.8% (2013 est.)
5.7% (2012 est.)
Labor force18.54 million (2013 est.)
Unemployment rate24.9% (2013 est.)
25.1% (2012 est.)
Distribution of family income - Gini index63.1 (2005)
59.3 (1994)
Public debt45.4% of GDP (2013 est.)
42.3% of GDP (2012 est.)
Current account balance-$23.78 billion (2013 est.)
-$24.07 billion (2012 est.)
Reserves of foreign exchange and gold$48.46 billion (31 December 2013 est.)
$50.7 billion (31 December 2012 est.)
GDP (official exchange rate)$353.9 billion (2013 est.)
Stock of direct foreign investment - at home$143.3 billion (31 December 2013 est.)
$139 billion (31 December 2012 est.)
Stock of direct foreign investment - abroad$87.67 billion (31 December 2013 est.)
$82.82 billion (31 December 2012 est.)
Market value of publicly traded shares$1.038 trillion (31 December 2012)
$855.7 billion (31 December 2011)
$1.013 trillion (31 December 2010)
Central bank discount rate5% (31 December 2012)
7% (31 December 2009)
Commercial bank prime lending rate8.5% (31 December 2013 est.)
8.75% (31 December 2012 est.)
Stock of domestic credit$252.6 billion (31 December 2013 est.)
$298.8 billion (31 December 2012 est.)
Stock of narrow money$110.2 billion (31 December 2013 est.)
$122 billion (31 December 2012 est.)
Stock of broad money$198 billion (31 December 2013 est.)
$220.1 billion (31 December 2012 est.)
Taxes and other revenues25% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-4.8% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 63.8%
government consumption: 24%
investment in fixed capital: 22%
investment in inventories: -0.8%
exports of goods and services: 30.6%
imports of goods and services: -39.6%
(2013 est.)
Gross national saving15.1% of GDP (2013 est.)
13.2% of GDP (2012 est.)
16.1% of GDP (2011 est.)