Economy - 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 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.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use:
GDP - composition, by sector of origin:
Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation:
Unemployment rate: Population below poverty line: Household income or consumption by percentage share:
Distribution of family income - Gini index: Budget:
Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
$595.7 billion (2013 est.)
country comparison to the world: 26
$584 billion (2012 est.)
$569.5 billion (2011 est.)
note:
data are in 2013 US dollars
[see also: GDP country ranks ]
$353.9 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]
2% (2013 est.)
country comparison to the world: 143
2.5% (2012 est.)
3.5% (2011 est.)
[see also: GDP - real growth rate country ranks ]
$11,500 (2013 est.)
country comparison to the world: 108
$11,400 (2012 est.)
$11,300 (2011 est.)
note:
data are in 2013 US dollars
[see also: GDP - per capita country ranks ]
15.1% of GDP (2013 est.)
country comparison to the world: 109
13.2% of GDP (2012 est.)
16.1% of GDP (2011 est.)
[see also: Gross national saving country ranks ]
household 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.)
agriculture:
2.6%
industry:
29%
services:
68.4% (2013 est.)
corn, wheat, sugarcane, fruits, vegetables; beef, poultry, mutton, wool, dairy products
mining (world's largest producer of platinum, gold, chromium), automobile assembly, metalworking, machinery, textiles, iron and steel, chemicals, fertilizer, foodstuffs, commercial ship repair
0.9% (2013 est.)
country comparison to the world: 154
[see also: Industrial production growth rate country ranks ]
18.54 million (2013 est.)
country comparison to the world: 33
[see also: Labor force country ranks ]
agriculture:
9%
industry:
26%
services:
65% (2007 est.)
24.9% (2013 est.)
country comparison to the world: 173
25.1% (2012 est.)
[see also: Unemployment rate country ranks ]
31.3% (2009 est.)
[see also: Population below poverty line country ranks ]
lowest 10%:
1.2%
highest 10%:
51.7% (2009 est.)
63.1 (2005)
country comparison to the world: 2
59.3 (1994)
[see also: Distribution of family income - Gini index country ranks ]
revenues:
$88.53 billion
expenditures:
$105.5 billion (2013 est.)
25% of GDP (2013 est.)
country comparison to the world: 130
[see also: Taxes and other revenues country ranks ]
-4.8% of GDP (2013 est.)
country comparison to the world: 163
[see also: Budget surplus (+) or deficit (-) country ranks ]
45.4% of GDP (2013 est.)
country comparison to the world: 81
42.3% of GDP (2012 est.)
[see also: Public debt country ranks ]
1 April - 31 March
5.8% (2013 est.)
country comparison to the world: 167
5.7% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]
5% (31 December 2012)
country comparison to the world: 43
7% (31 December 2009)
[see also: Central bank discount rate country ranks ]
8.5% (31 December 2013 est.)
country comparison to the world: 100
8.75% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]
$110.2 billion (31 December 2013 est.)
country comparison to the world: 34
$122 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]
$198 billion (31 December 2013 est.)
country comparison to the world: 37
$220.1 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]
$252.6 billion (31 December 2013 est.)
country comparison to the world: 38
$298.8 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]
$1.038 trillion (31 December 2012)
country comparison to the world: 15
$855.7 billion (31 December 2011)
$1.013 trillion (31 December 2010)
[see also: Market value of publicly traded shares country ranks ]
-$23.78 billion (2013 est.)
country comparison to the world: 183
-$24.07 billion (2012 est.)
[see also: Current account balance country ranks ]
$91.05 billion (2013 est.)
country comparison to the world: 42
$93.48 billion (2012 est.)
[see also: Exports country ranks ]
gold, diamonds, platinum, other metals and minerals, machinery and equipment
China 11.8%, US 8.3%, Japan 6%, Germany 5.7%, India 4.2% (2012)
$99.55 billion (2013 est.)
country comparison to the world: 34
$102.6 billion (2012 est.)
[see also: Imports country ranks ]
machinery and equipment, chemicals, petroleum products, scientific instruments, foodstuffs
China 14.4%, Germany 10.1%, Saudi Arabia 7.7%, US 7.4%, Japan 4.6%, India 4.5% (2012)
$48.46 billion (31 December 2013 est.)
country comparison to the world: 42
$50.7 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]
$139 billion (31 December 2013 est.)
country comparison to the world: 40
$130.4 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]
$143.3 billion (31 December 2013 est.)
country comparison to the world: 34
$139 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]
$87.67 billion (31 December 2013 est.)
country comparison to the world: 30
$82.82 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]
rand (ZAR) per US dollar -
9.576 (2013 est.)
8.2031 (2012 est.)
7.3212 (2010 est.)
8.42 (2009)
7.9576 (2008)