South Africa

South Africa Economic Outlook

  • Labour unrest and the persistently sluggish environment in Europe and the United States impacted on growth, but the situation should improve in 2014 as the global economy improves and a cheaper rand boosts exports.
  • With almost 25% of the population (and 65% of young people) without work, unemployment is South Africa’s largest social challenge. The National Development Plan of 2012 stipulates crucial measures for the acceleration of structural and education reforms.
  • South Africa is an important hub in the global mining value chain, a regional assembly hub in the global automotive value chain and a key player in the regional finance and retail value chains. It should capitalise on these links as engines of growth at home.

Contacts

Southern Africa Resource Center (SARC)

African Development Bank Group
339 Witch-Hazel Avenue
Highveld Ext. 78
Centurion, South Africa

Tel: +27 12 003 6900

Mr. Ebrima Faal, RRC Director


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Did you know

South Africa produces almost half the entire continent’s electricity output

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Key Facts

Flag:
Capital: Pretoria
Area: 1,221,000 sq km
Total Population 2013: 52.8 Million
Urban Population 2013: 62.88%
Female Population 2013: 51.46%
GDP: US$ 335.4 Billion
GNI Per Capita 2013: US$ 7,610
Inflation Rate: 5.67%
Crude Birth Rate (per 1000): 20.85%
Human Development Index (rank / 187): 121
Human Development Index (scale 0 to 1): 0.629
Membership Date: 13/12/1995
Cumulative Approvals (1967-2013): UA 3.8 Billion

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