South Africa

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Introduction - South Africa:
Location - South Africa:
People - South Africa:
Government - South Africa:
Economy - South Africa:

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; 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 Africas 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 purchasing power parity

$587.5 billion (2006 est.)

Gdp official exchange rate

$201.4 billion (2006 est.)

Gdp real growth rate

5% (2006 est.)

Gdp per capita ppp

$13,300 (2006 est.)

Gdp composition by sector

agriculture: 2.6%
industry: 30.3%
services: 67.1% (2006 est.)

Labor force

16.09 million economically active (2006 est.)

Labor force by occupation

agriculture: 30%
industry: 25%
services: 45% (1999 est.)

Unemployment rate

25.5% (2006 est.)

Population below poverty line

50% (2000 est.)

Household income or consumption by percentage share

lowest 10%: 1.1%
highest 10%: 45.9% (1994)

Distribution of family income gini index

59.3 (1995)

Inflation rate consumer prices

5% (2006 est.)

Investment gross fixed

17.1% of GDP (2006 est.)

Budget

revenues: $72.15 billion
expenditures: $75.93 billion; including capital expenditures of $NA (2006 est.)

Public debt

32.9% of GDP (2006 est.)

Agriculture products

corn, wheat, sugarcane, fruits, vegetables; beef, poultry, mutton, wool, dairy products

Industries

mining (worlds largest producer of platinum, gold, chromium), automobile assembly, metalworking, machinery, textiles, iron and steel, chemicals, fertilizer, foodstuffs, commercial ship repair

Industrial production growth rate

7.1% (2006 est.)

Electricity production

227.2 billion kWh (2004)

Electricity consumption

207 billion kWh (2004)

Electricity exports

12.4 billion kWh (2004)

Electricity imports

8.026 billion kWh (2004)

Oil production

229,900 bbl/day (2004 est.)

Oil consumption

502,000 bbl/day (2004 est.)

Oil exports

NA bbl/day

Oil imports

398,000 bbl/day (2006)

Oil proved reserves

15.68 million bbl (1 January 2005)

Natural gas production

2.23 billion cu m (2004 est.)

Natural gas consumption

2.23 billion cu m (2004 est.)

Natural gas exports

0 cu m (2004 est.)

Natural gas imports

0 cu m (2004 est.)

Natural gas proved reserves

28.32 million cu m (1 January 2005 est.)

Current account balance

-$12.69 billion (2006 est.)

Exports

$59.15 billion f.o.b. (2006 est.)

Exports commodities

gold, diamonds, platinum, other metals and minerals, machinery and equipment

Exports partners

Japan 12.1%, US 11.8%, UK 9%, Germany 7.6%, Netherlands 5.3%, China 4% (2006)

Imports

$61.53 billion f.o.b. (2006 est.)

Imports commodities

machinery and equipment, chemicals, petroleum products, scientific instruments, foodstuffs

Imports partners

Germany 12.6%, China 10%, US 7.6%, Japan 6.6%, Saudi Arabia 5.3%, UK 5% (2006)

Reserves of foreign exchange and gold

$23.74 billion (2006 est.)

Debt external

$55.47 billion (30 June 2006 est.)

Economic aid recipient

$487.5 million (2000)

Currency code

rand (ZAR)

Exchange rates

rand per US dollar - 6.7649 (2006), 6.3593 (2005), 6.4597 (2004), 7.5648 (2003), 10.5407 (2002)

Communications - South Africa:
Transportation - South Africa:
Military - South Africa:
This page was last updated on 16 September, 2007
Source: CIA >>>


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South Africa



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South Africa



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