Includes South Africa real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about South Africa economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of South Africa best banks and safest banks are also available.
Basic Information
Government Type: Parliamentary republic
Capital City: Pretoria (administrative capital); Cape Town (legislative capital); Bloemfontein (judicial capital)
GDP & Economic Information
Macroeconomy & Sovereign Data
| Central Bank |
South African Reserve Bank |
|---|---|
| Currency |
Rand (ZAR) |
| International Reserves |
USD 51.6 billion (2018) International Monetary Fund (IMF), data retrieved October 2019 |
| Gross Domestic Product – GDP |
USD 368.1 billion (2018, estimate) IMF – World Economic Outlook, October 2019 |
| GDP (Purchasing Power Parity) | Intl$ 789.4 billion (2018, estimate) |
GDP Data
| Real GDP growth |
2014 1.8% 2015 1.2% 2016 0.4% 2017* 1.4% 2018* 0.8% *Estimate |
|---|---|
| GDP per capita – current prices | USD 6,377.3 (2018, estimate) |
| GDP per capita – PPP | Intl$ 13,675.3 (2018, estimate) |
| GDP (PPP) – share of world total | 0.57% (2019, estimate) |
| GDP – composition by sector |
agriculture: 2.2% industry: 26% services: 61.4% |
| Gross domestic expenditure on R&D; (% of GDP) |
0.8% (2015) OECD, retrieved October 2019 |
| Inflation |
2014 4.6% 2015 6.3% 2016 5.3% 2017* 4.6% 2018* 4.4% *Estimate |
South Africa
Economics, Policy & Regulation
Six New Members Join BRICS
Inflation & Debt
| Inflation |
2014 4.6% 2015 6.3% 2016 5.3% 2017* 4.6% 2018* 4.4% *Estimate |
|---|---|
| Government Bond Ratings |
Standard & Poor’s: BB Moody’s: Baa3 Standard & Poor’s / Moody’s (Updated January 2017) |
| Unemployment rate |
2014 25.4% 2015 26.7% 2016 27.5% 2017* 27.1% 2018* 27.9% *Estimate |
| Household saving rates |
0.3% (2017) |
| Public debt (General government gross debt as a % of GDP) |
2014 49.3% 2015 51.5% 2016 53% 2017* 56.7% 2018* 59.9% *Estimate |
| Public deficit (General government net lending/borrowing as a % of GDP) |
2014 -4.8% 2015 -4.1% 2016 -4.4% 2017* -4.4% 2018* -6.2% *Estimate |
| Market value of publicly traded shares |
2016 USD 951.3 billion 2017 USD 1,231.0 billion 2018 USD 865.3 billion |
| Largest Companies |
Standard Bank Group, Steinhoff International, Sasol, FirstRand, MTN Group, Naspers, Sanlam, Bidvest Group, Shoprite Holdings, Remgro, Aspen Pharmacare Holdings, MMI Holdings, RMB Holdings. |
Import/Export
| Exports as percent of GDP (Exports of goods and services) | 29.9% (2018) |
|---|---|
| Shares in world total merchandising export |
0.48% (2018) |
| Shares in world total commercial services export |
0.27% (2018) |
| Total exports |
USD 110.2 billion (2018) |
| Export commodities |
Gold, diamonds, platinum, other metals and minerals, machinery and equipment |
| Total imports |
USD 108.9 billion (2018 estimate) |
| Import commodities |
Machinery and equipment, chemicals, petroleum products, scientific instruments, foodstuffs |
| Exports – major partners |
China 9.5%, US 7.7%, Germany 7.1%, Japan 4.7%, India 4.6%, Botswana 4.3%, Namibia 4.1% (2017) |
| Imports – major partners |
China 18.3%, Germany 11.9%, US 6.6%, Saudi Arabia 4.7%, India 4.7% (2017) |
Competitiveness & Trade
| Current account balance | USD -13.1 billion (2018 estimate) |
|---|---|
| Current account balance by percentage of GDP | -3.5 % (2018 estimate) |
| FDI inflows |
2016 USD 2,235 million 2017 USD 2,007 million 2018 USD 5,334 million |
| FDI Outflows |
2016 USD 4,474 million 2017 USD 7,366 million 2018 USD 4,552 million |
| Value of cross-border M&A, by country of purchaser |
N/A United Nations Conference on Trade and Development (UNCTAD) – World Investment Report |
| Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
| Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
| Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 84 out of 190 countries (2019) Subcategories: Starting a Business: 139 out of 190 countries Dealing with Construction Permits: 98 out of 190 countries Getting Electricity: 114 out of 190 countries Registering Property: 108 out of 190 countries Getting Credit: 80 out of 190 countries Protecting Minority Investors: 13 out of 190 countries Paying Taxes: 54 out of 190 countries Trading across Borders: 145 out of 190 countries Enforcing Contracts: 102 out of 190 countries Resolving Insolvency: 68 out of 190 countries |
| Global competitiveness ranking |
60 out of 141 countries (2019) |
| Index of Economic Freedom |
Ranking: 102 / Score: 58.3 (Mostly unfree) (2019) (100=totally free 0=totally repressed) |
Population & Geographic Data
| Time Zone |
UTC+2 |
|---|---|
| Total Area |
1,219,090 sq km |
| Total Population |
1990 36.79 million 2000 44.9 million 2010 51.33 million 2015 55.41 million 2020* 59.72 million *Estimate |
| Urban population as % of total population |
1960 46.6% 1980 48.4% 2000 56.9% 2018 66.4% |
| Population median age |
27.4 (2018) |
| Population growth rate |
0.97% (2018 estimate) |
| Life expectancy |
64.1 years (2018 estimate) CIA World Factbook / Life expectancy |
| % of population living on less than $3.10 a day |
1.2% (last available estimate, 2019) World Bank / Poverty headcount at $3.10 |
| Inequality of wealth distribution (Gini index) |
63.0 (last available estimate: 2014) (0=perfect equality, 100=absolute inequality) |
| Freedom House rating |
Political Rights: 2 Civil Liberties: 2 (2019) (1 represents the most free, 7 the least free rating) |
| Total telephone subscribers as % of population |
Fixed: 5.4% Mobile: 153.2% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
| Internet users as % of total population |
56.17 % (2017) |
Language & Religon
| Languages |
isiZulu (official) 24.7%, isiXhosa (official) 15.6%, Afrikaans (official) 12.1%, Sepedi (official) 9.8%, Setswana (official) 8.9%, English (official) 8.4%, Sesotho (official) 8%, Xitsonga (official) 4%, siSwati (official) 2.6%, Tshivenda (official) 2.5%, |
|---|---|
| Literacy |
Total population: 94.4% Male: 95.4% Female: 93.4% Definition: age 15 and over can read and write (2015 est.) |
| Religions |
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.) |
World Rankings
| Population | 59.72 M |
|---|---|
| Mercer Cost of living index |
Cape Town: 180th Johannesburg: 185th (2019) |
| C02 Emissions per capita |
8.98 metric tons per capita (2014) |
Global Finance Rankings & Awards: South Africa
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000