Overview: Many of the white one-seventh of the South African population enjoy incomes, material comforts, and health and educational standards equal to those of Western Europe. In contrast, most of the remaining population suffers from the poverty patterns of the Third World, including unemployment, lack of job skills, and barriers to movement into higher-paying fields. Inputs and outputs thus do not move smoothly into the most productive employments, and the effectiveness of the market is further lowered by international constraints on dealings with South Africa. The main strength of the economy lies in its rich mineral resources, which provide two-thirds of exports. Average growth of less than 2% in output in recent years falls far short of the 5-6% level needed to cut into the high unemployment rate.

GDP: $101.7 billion, per capita $2,600; real growth rate - 0.9% (1990)

Inflation rate (consumer prices): 14.4% (1990)

Unemployment rate: 22% (1989); blacks 25-30%, up to 50% in homelands (1988 est.)

Budget: revenues $28.9 billion; expenditures $32.8 billion, including capital expenditures of $1.1 billion (FY92 est.)

Exports: $23.4 billion (f.o.b., 1990); commodities--gold 39%, minerals and metals 33%, food 5%, chemicals 3%; partners--Italy, Japan, US, FRG, UK, other EC, Hong Kong

Imports: $17 billion (c.i.f., 1990); commodities--machinery 32%, transport equipment 15%, chemicals 11%, oil, textiles, scientific instruments, base metals; partners--FRG, Japan, UK, US, Italy

External debt: $19.5 billion (July 1990)

Industrial production: growth rate NA%; accounts for about 45% of GDP

Electricity: 34,941,000 kW capacity; 158,000 million kWh produced, 4,100 kWh per capita (1989)

Industries: mining (world's largest producer of platinum, gold, chromium), automobile assembly, metalworking, machinery, textile, iron and steel, chemical, fertilizer, foodstuffs

Agriculture: accounts for about 5% of GDP and 30% of labor force; diversified agriculture, with emphasis on livestock; products--cattle, poultry, sheep, wool, milk, beef, corn, wheat; sugarcane, fruits, vegetables; self-sufficient in food

Economic aid: NA

Currency: rand (plural--rand); 1 rand (R) = 100 cents

Exchange rates: rand (R) per US$1--2.5625 (January 1991), 2.5863 (1990), 2.6166 (1989), 2.2611 (1988), 2.0350 (1987), 2.2685 (1986), 2.1911 (1985)

Fiscal year: 1 April-31 March

NOTE: The information regarding South Africa on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of South Africa Economy 1991 information contained here. All suggestions for corrections of any errors about South Africa Economy 1991 should be addressed to the CIA.