South Africa's main exports
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 15th largest in the world. Even though the country possesses modern infrastructure that support a relatively efficient distribution of goods to major urban centers throughout the region, some components slow growth. The economy began to slow in the second half of 2007 due to an electricity crisis. State power supplier Eskom encountered problems with aging plants and meeting electricity demand necessitating "load-shedding" cuts in 2007 and 2008 to residents and businesses in the major cities. Subsequently, the global financial crisis reduced commodity prices and world demand. GDP fell nearly 2% in 2009 but has recovered since then. Unemployment, poverty, and inequality remain a challenge, with official unemployment at nearly 25% of the work force. State power supplier Eskom has built two new power stations and installed new power demand management programs to improve power grid reliability. 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.
Agriculture
South Africa's agriculture as a percentage of GDP has decreased over past four decades, currently contributing around 2%. This implies that the economy is maturing, moving towards the secondary and tertiary sectors. However, farming remains vitally important to the economy with 638 000 people formally employed (Statistics SA, 2012 Q2) – although it’s estimated that around 8,5-million people are directly or indirectly dependent on agriculture for their employment and income. The sector's significance is largely because of its potential to create jobs, and is a key focus of the New Growth Path, a plan by the government to create 5-million new jobs by 2020. Plans include programmes to promote commercially oriented small-scale farming. Support is also available to smallholders on land acquired through land reform.
The main agricultural products are: corn, wheat, sugarcane, fruits, vegetables, beef, poultry, mutton, wool, and dairy products.
The main agricultural products are: corn, wheat, sugarcane, fruits, vegetables, beef, poultry, mutton, wool, and dairy products.
Manufacturing
South African gold mine
South Africa has developed an established, diversified manufacturing base that has shown its resilience and potential to compete in the global economy.The manufacturing sector provides a locus for stimulating the growth of other activities, such as services, and achieving specific outcomes, such as employment creation and economic empowerment. This platform of manufacturing presents an opportunity to significantlyaccelerate the country's growth and development.
Manufacturing in South Africa is dominated by the agriprocessing, automotive, chemicals, ICT, electronic, metals, textiles, and clothing and footwear industries.
South Africa is the world's largest producer of platinum, gold, chromium.
Manufacturing in South Africa is dominated by the agriprocessing, automotive, chemicals, ICT, electronic, metals, textiles, and clothing and footwear industries.
South Africa is the world's largest producer of platinum, gold, chromium.
GDP (purchasing power parity):
- $578.6 billion (2012 est.) country comparison to the world: 26
- $564 billion (2011 est.)
- $546.9 billion (2010 est.)
If you're unsure on what GDP is or what exactly the numbers mean click on the titles above the statistics.
GDP (official exchange rate):
- $390.9 billion (2012 est.)
GDP - real growth rate:
- 2.6% (2012 est.)
- 3.1% (2011 est.)
- 2.9% (2010 est.)
GDP - per capita (PPP):
- $11,300 (2012 est.)
- $11,100 (2011 est.)
- $10,900 (2010 est.)
GDP - composition by sector:
- agriculture: 2.4%
- industry: 32.1%
- services: 64.9% (2012 est.)
Labor force:
- 17.89 million (2012 est.)
Labor force - by occupation:
- agriculture: 9%
- industry: 26%
- services: 65% (2007 est.)
Unemployment rate:
- 22.7% (2012 est.)
- 24.9% (2011 est.)
Population below poverty line:
- 31.3% (2009 est.)
Inflation rate (consumer prices):
- 5.2% (2012 est.)
- 5% (2011 est.)
Debt - external:
- $47.56 billion (31 December 2012 est.)
- $47.49 billion (31 December 2011 est.)
Exchange rates:
rand (ZAR) per US dollar -
8.1 (2012 est.)
7.26 (2011 est.)
7.32 (2010 est.)
8.42 (2009)
7.96 (2008)
8.1 (2012 est.)
7.26 (2011 est.)
7.32 (2010 est.)
8.42 (2009)
7.96 (2008)