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 - per capita | $11,900 (2005 est.) |
GDP - real growth rate (%) | 4.5% (2005 est.) |
Agriculture - products | corn, wheat, sugarcane, fruits, vegetables; beef, poultry, mutton, wool, dairy products |
GDP - composition by sector (%) | agriculture: 3.4%, industry: 31.6%, services: 65.1% (2005 est.) |
Industries | mining (world's largest producer of platinum, gold, chromium), automobile assembly, metalworking, machinery, textile, iron and steel, chemicals, fertilizer, foodstuffs, commercial ship repair |
Economic aid - recipient | $487.5 million (2000) |
Debt - external | $44.33 billion (30 June 2005 est.) |
Population below poverty line (%) | 50% (2000 est.) |
Labor force - by occupation (%) | agriculture 30%, industry 25%, services 45% (1999 est.) |