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South Africa Economy 2017
http://www.theodora.com/wfbcurrent/south_africa/south_africa_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











South Africa Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

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 Africa’s largest and among the top 20 in the world.Economic growth has decelerated in recent years, slowing to just 1.5% in 2014. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is roughly 25% of the workforce, and runs significantly higher among black youth. 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. Eskom, the state-run power company, is building three new power stations and is installing new power demand management programs to improve power grid reliability. Load shedding and resulting rolling blackouts gripped many parts of South Africa in late 2014 and early 2015 because of electricity supply constraints due to technical problems at some generation units, unavoidable planned maintenance, and an accident at a power station in Mpumalanga province. The rolling blackouts were the worst the country faced since 2008. Construction delays at two additional plants, however, mean South Africa will continue to operate on a razor thin margin; economists judge that growth cannot exceed 3% until electrical supply problems are resolved.South Africa's economic policy has focused on controlling inflation; however, the country faces structural constraints that also limit economic growth, such as skills shortages, declining global competitiveness, and frequent work stoppages due to strike action. The current government faces growing pressure from urban constituencies to improve the delivery of basic services to low-income areas and to increase job growth.

GDP (purchasing power parity):
$736.3 billion (2016 est.) $735.4 billion (2015 est.) $726.3 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 31
[see also: GDP country ranks ]

GDP (official exchange rate):
$280.4 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
0.1% (2016 est.) 1.3% (2015 est.) 1.6% (2014 est.)
country comparison to the world: 191
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$13,200 (2016 est.) $13,400 (2015 est.) $13,400 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 119
[see also: GDP - per capita country ranks ]

Gross national saving:
16.3% of GDP (2016 est.) 16.4% of GDP (2015 est.) 15.5% of GDP (2014 est.)
country comparison to the world: 109
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 58%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 19.9%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 20.1%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.5%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 34.9%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -33.4% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 2.2%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 29.2%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 68.7% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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:
-1% (2016 est.)
country comparison to the world: 181
[see also: Industrial production growth rate country ranks ]

Labor force:
21.7 million (2016 est.)
country comparison to the world: 30
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 4%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 18%
[see also: Labor force - by occupation - industry country ranks ]
services: 66% (2014 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
26.8% (2016 est.) 25.4% (2015 est.)
country comparison to the world: 182
[see also: Unemployment rate country ranks ]

Population below poverty line:
35.9% (2012 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.2%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 51.7% (2009 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
62.5 (2013 est.) 59.3 (1994)
country comparison to the world: 2
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $76.62 billion
[see also: Budget revenues country ranks ]
expenditures: $86.45 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
27.3% of GDP (2016 est.)
country comparison to the world: 96
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.5% of GDP (2016 est.)
country comparison to the world: 123
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
43.3% of GDP (2016 est.) 44.4% of GDP (2015 est.)
country comparison to the world: 109
[see also: Public debt country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
6.5% (2016 est.) 4.5% (2015 est.)
country comparison to the world: 183
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
5.75% (31 December 2014) 7% (31 December 2009)
country comparison to the world: 70
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
10.6% (31 December 2016 est.) 9.42% (31 December 2015 est.)
country comparison to the world: 77
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$99.49 billion (31 December 2016 est.) $91.72 billion (31 December 2015 est.)
country comparison to the world: 36
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$172.7 billion (31 December 2015 est.) $192.9 billion (31 December 2014 est.)
country comparison to the world: 46
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$209 billion (31 December 2016 est.) $196.6 billion (31 December 2015 est.)
country comparison to the world: 45
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$735.9 billion (31 December 2015 est.) $933.9 billion (31 December 2014 est.) $942.8 billion (31 December 2013 est.)
country comparison to the world: 16
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$9.382 billion (2016 est.) -$13.67 billion (2015 est.)
country comparison to the world: 177
[see also: Current account balance country ranks ]

Exports:
$83.16 billion (2016 est.) $81.63 billion (2015 est.)
country comparison to the world: 39
[see also: Exports country ranks ]

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

Exports - partners:
China 11.3%, US 7.3%, Germany 6%, Namibia 5.2%, Botswana 5.2%, Japan 4.7%, UK 4.3%, India 4.2% (2015)

Imports:
$85.03 billion (2016 est.) $84.33 billion (2015 est.)
country comparison to the world: 36
[see also: Imports country ranks ]

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

Imports - partners:
China 17.6%, Germany 11.2%, US 6.7%, Nigeria 5%, India 4.7%, Saudi Arabia 4.1% (2015)

Reserves of foreign exchange and gold:
$44.6 billion (31 December 2016 est.) $45.91 billion (31 December 2015 est.)
country comparison to the world: 40
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$129.7 billion (31 December 2016 est.) $131.7 billion (31 December 2015 est.)
country comparison to the world: 44
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$128.3 billion (31 December 2016 est.) $124.9 billion (31 December 2015 est.)
country comparison to the world: 43
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$168.2 billion (31 December 2016 est.) $162.8 billion (31 December 2015 est.)
country comparison to the world: 27
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
rand (ZAR) per US dollar - 15.7 (2016 est.) 12.7581 (2015 est.) 12.7581 (2014 est.) 10.8469 (2013 est.) 8.2 (2012 est.)


NOTE: The information regarding South Africa on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of South Africa Economy 2017 information contained here. All suggestions for corrections of any errors about South Africa Economy 2017 should be addressed to the CIA.




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