South Africa

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

South Africa - In Short.

Overview of South Africa

Some of the earliest human remains in the fossil record are found in South Africa. By about A.D. 500, Bantu speaking groups began settling into what is now northeastern South Africa displacing Khoisan speaking groups to the southwest. Dutch traders landed at the southern tip of present-day South Africa in 1652 and established a stopover point on the spice route between the Netherlands and the Far East, founding the city of Cape Town. After the British seized the Cape of Good Hope area in 1806, many of the settlers of Dutch descent (Afrikaners, also called “Boers” (farmers) at the time) trekked north to found their own republics, Transvaal and Orange Free State. In the 1820s, several decades of wars began as the Zulus expanded their territory, moving out of what is today southeastern South Africa and clashing with other indigenous peoples and with expanding European settlements. The discovery of diamonds (1867) and gold (1886) spurred wealth and immigration from Europe.The Anglo-Zulu War (1879) resulted in the incorporation of the Zulu kingdom’s territory into the British Empire. Subsequently, the Afrikaner republics were incorporated into the British Empire after their defeat in the Second South African War (1899-1902). However, the British and the Afrikaners ruled together beginning in 1910 under the Union of South Africa, which became a republic in 1961 after a whites-only referendum. In 1948, the National Party was voted into power and instituted a policy of apartheid – billed as “separate development” of the races – which favored the white minority at the expense of the black majority and other non-white groups. The African National Congress (ANC) led the opposition to apartheid and many top ANC leaders, such as Nelson MANDELA, spent decades in South Africa’s prisons. Internal protests and insurgency, as well as boycotts by some Western nations and institutions, led to the regime’s eventual willingness to negotiate a peaceful transition to majority rule. The first multi-racial elections in 1994 following the end of apartheid ushered in majority rule under an ANC-led government. South Africa has since struggled to address apartheid-era imbalances in wealth, housing, education, and health care. Jacob ZUMA became president in 2009 and was reelected in 2014, but resigned in February 2018 after numerous corruption scandals and gains by opposition parties in municipal elections in 2016. His successor, Cyril RAMAPHOSA, has made some progress in reigning in corruption, though many challenges persist. In May 2019 national elections, the country’s sixth since the end of apartheid, the ANC won a majority of parliamentary seats, delivering RAMAPHOSA a five-year term.
Value
Country Full Name
South Africa
Country Code
ZAF
Region
Sub-Saharan Africa
Income Group
Upper middle income
Currency Unit
GDP
3.35E+11
Population
59308690
Land Area
1213090
Net National Income Per Capita
4548.301112
GDP per Capita (PPP)
13360.57401

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

South Africa - Economic

Economy of South Africa

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 an estimated 0.7% in 2017. Unemployment, poverty, and inequality – among the highest in the world – remain a challenge. Official unemployment is roughly 27% 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 but has been plagued with accusations of mismanagement and corruption and faces an increasingly high debt burden.South Africa’s economic policy has focused on controlling inflation while empowering a broader economic base; 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 government faces growing pressure from urban constituencies to improve the delivery of basic services to low-income areas, to increase job growth, and to provide university level-education at affordable prices. Political infighting among South Africa’s ruling party and the volatility of the rand risks economic growth. International investors are concerned about the country’s long-term economic stability; in late 2016, most major international credit ratings agencies downgraded South Africa’s international debt to junk bond status.

Unemployment Rate

Inflation Rate

South Africa - GDP Composition

GDP Composiiton & Value Added of South Africa

Last Updated: Jan, 2021, Updated For 2020.

South Africa - GDP, Value Added

Demographics of South Africa

the population concentrated along the southern and southeastern coast, and inland around Pretoria; the eastern half of the country is more densly populated than the west as shown in this population distribution map
Geographic Location

Southern Africa, at the southern tip of the continent of Africa

Races

Black African 80.9%, Colored 8.8%, White 7.8%, Indian/Asian 2.5% (2018 est.)note: colored is a term used in South Africa, including on the national census, for persons of mixed race ancestry who developed a distinct cultural identity over several hundred years

Languages

isiZulu (official) 25.3%, isiXhosa (official) 14.8%, Afrikaans (official) 12.2%, Sepedi (official) 10.1%, Setswana (official) 9.1%, English (official) 8.1%, Sesotho (official) 7.9%, Xitsonga (official) 3.6%, siSwati (official) 2.8%, Tshivenda (official) 2.5%, isiNdebele (official) 1.6%, other (includes Khoi, Nama, and San languages) 2%; note - data represent language spoken most often at home (2018 est.)major-language

Religion

Christian 86%, ancestral, tribal, animist, or other traditional African religions 5.4%, Muslim 1.9%, other 1.5%, nothing in particular 5.2% (2015 est.)

Dependency & Expectancy of South Africa

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

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South Africa - Social Media Briefing

South Africa - Social Media & Social Commerce

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Politics & Policies of South Africa

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

ACP, AfDB, AU, BIS, BRICS, C, CD, FAO, FATF, G-20, G-24, G-5, G-77, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MONUSCO, NAM, NSG, OECD (enhanced engagement), OPCW, Paris Club (associate), PCA, SACU, SADC, UN, UNAMID, UNCTAD, UNESCO, UNHCR, UNIDO, UNITAR, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO, ZC

Import of South Africa

Export of South Africa

Import Destination

Export Destination