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World > Africa > South Africa > Economy (Facts)

South Africa - Economy (Facts)
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 Africa's 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 - real growth rate: 5% (2006 est.)
GDP (purchasing power parity): $587.5 billion (2006 est.)
GDP (official exchange rate): $201.4 billion (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.)
Population below poverty line: 50% (2000 est.)
Household income or consumption by percentage share: lowest 10%: 1.1%
highest 10%: 45.9% (1994)
Inflation rate (consumer prices): 5% (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.)
Budget: revenues: $72.15 billion
expenditures: $75.93 billion; including capital expenditures of NA (2006 est.)
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: 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 - exports: 0 cu m (2004 est.)
Natural gas - imports: 0 cu m (2004 est.)
Agriculture - products: corn, wheat, sugarcane, fruits, vegetables; beef, poultry, mutton, wool, dairy products
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)
Debt - external: $55.47 billion (30 June 2006 est.)
Economic aid - recipient: $487.5 million (2000)
Currency: South African Rand (ZAR)

Current South African Rand Exchange Rates
Historical South African Rand Exchange Rates
Chart South African Rand Exchange Rates
Currency code: ZAR
Exchange rates: rand per US dollar - 6.7649 (2006), 6.3593 (2005), 6.4597 (2004), 7.5648 (2003), 10.5407 (2002)
Fiscal year: 1 April - 31 March


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions - South African Rand Exchange Rates
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions
South African Rand Exchange Rates


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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