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South Africa Economy 2016
http://www.theodora.com/wfbcurrent/south_africa/south_africa_economy.html
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES


















South Africa Economy 2016
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on June 20, 2014

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):
$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 ]

GDP (official exchange rate):
$353.9 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
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 ]

GDP - per capita:
$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 ]

Gross national saving:
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 ]

GDP - composition, by end use:
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.)

GDP - composition, by sector of origin:
agriculture: 2.6%
industry: 29%
services: 68.4% (2013 est.)

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

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

Industrial production growth rate:
0.9% (2013 est.)
country comparison to the world: 154
[see also: Industrial production growth rate country ranks ]

Labor force:
18.54 million (2013 est.)
country comparison to the world: 33
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 9%
industry: 26%
services: 65% (2007 est.)

Unemployment rate:
24.9% (2013 est.)
country comparison to the world: 173

25.1% (2012 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
31.3% (2009 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.2%
highest 10%: 51.7% (2009 est.)

Distribution of family income - Gini index:
63.1 (2005)
country comparison to the world: 2

59.3 (1994)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $88.53 billion
expenditures: $105.5 billion (2013 est.)

Taxes and other revenues:
25% of GDP (2013 est.)
country comparison to the world: 130
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-4.8% of GDP (2013 est.)
country comparison to the world: 163
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
45.4% of GDP (2013 est.)
country comparison to the world: 81

42.3% of GDP (2012 est.)
[see also: Public debt country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
5.8% (2013 est.)
country comparison to the world: 167

5.7% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
5% (31 December 2012)
country comparison to the world: 43

7% (31 December 2009)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
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 ]

Stock of narrow money:
$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 ]

Stock of broad money:
$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 ]

Stock of domestic credit:
$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 ]

Market value of publicly traded shares:
$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 ]

Current account balance:
-$23.78 billion (2013 est.)
country comparison to the world: 183

-$24.07 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$91.05 billion (2013 est.)
country comparison to the world: 42

$93.48 billion (2012 est.)
[see also: Exports country ranks ]

Exports - commodities:
gold, diamonds, platinum, other metals and minerals, machinery and equipment

Exports - partners:
China 11.8%, US 8.3%, Japan 6%, Germany 5.7%, India 4.2% (2012)

Imports:
$99.55 billion (2013 est.)
country comparison to the world: 34

$102.6 billion (2012 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, chemicals, petroleum products, scientific instruments, foodstuffs

Imports - partners:
China 14.4%, Germany 10.1%, Saudi Arabia 7.7%, US 7.4%, Japan 4.6%, India 4.5% (2012)

Reserves of foreign exchange and gold:
$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 ]

Debt - external:
$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 ]

Stock of direct foreign investment - at home:
$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 ]

Stock of direct foreign investment - abroad:
$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 ]

Exchange rates:
rand (ZAR) per US dollar -

9.576 (2013 est.)
8.2031 (2012 est.)
7.3212 (2010 est.)
8.42 (2009)
7.9576 (2008)


NOTE: The information regarding South Africa on this page is re-published from the 2016 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of South Africa Economy 2016 information contained here. All suggestions for corrections of any errors about South Africa Economy 2016 should be addressed to the CIA.




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