Includes historical data for South Africa’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.
One Of The World’s Fastest-Growing Consumer Markets
South Africa is one of the most advanced economies in sub-Saharan Africa and the fastest-growing consumer market in the world. Along with being a top exporter of gold, platinum and other mineral resources, the country boasts solid democratic institutions, a well-established financial sector, and a youthful and skilled labor force.
In dealing with the legacy of apartheid, however, government efforts to boost participation and opportunity for historically disadvantaged South Africans have had uneven results, leaving the country’s severe income and wealth inequality problems unresolved. Additionally, South Africa continues to suffer from the effects of a decade of economic stagnation that were further exacerbated by the pre-Covid pandemic. Supplemental challenges include a weak rule of law, opaque regulations that can discourage private and foreign investment, and inadequate infrastructure in telecommunication, transport and energy.
Macroeconomy & Sovereign Data
| Type of Government | Constitutional democracy |
|---|---|
| Capital | Cape Town |
| Sovereign Ratings |
S&P: BB– Moody’s: Baa2 Fitch: BB– |
| Total Population | 62.5 million |
| Median Age | 27.8 |
| Adult Per Capita Income (PPP) | 23,789.35 |
| Total GDP (2023) | 373.2 billion |
South Africa GDP & Economic Overview
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Trade & Investment
| Total Exports | USD 112.6 billion (2023) |
|---|---|
| Leading Exports |
Gold Platinum Cars Iron Products Coal Manganese Diamonds |
| Total Imports | USD 167.0 billion (2022) |
| Leading Imports |
Crude Petroleum Refined Petroleum Cars And Vehicle Parts Gold Broadcasting Equipment |
| Source: | World Integrated Trade Solution |
South Africa Leading Companies
| Eskom | Utilities |
|---|---|
| Sasol | Integrated Oil & Gas |
| MTN Group | Communication Services |
| Shoprite Holdings | Consumer Staples Distribution & Retail |
| Sibanye Gold | Materials, Metals & Mining |
| Spar Group | Consumer Staples Distribution & Retail |
| Naspers | Information Technology, Media & Entertainment |
Major Trade Partners — Import
| China | 21% |
|---|---|
| Germany | 8% |
| United States | 7% |
| India | 6% |
| Saudi Arabia | 4% |
Source: World Integrated Trade Solution
Major Trade Partners — Export
| China | 11% |
|---|---|
| United States | 11% |
| Germany | 8% |
| Japan | 7% |
| United Kingdom | 7% |
Source: World Integrated Trade Solution
Global Finance Rankings & Awards
Data Sources:
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