South Africa

South Africa Economic Outlook

Since 2012, following the sharp decline in international commodity prices for the country’s four key exports—coal, platinum, iron ore and gold—economic growth slowed, compounded by domestic structural weaknesses and subdued investor confidence. After reaching 3.3% in 2011, growth fell to 0.3% in 2016. Growth in output from the country’s key sectors, including manufacturing, dropped from 3% in 2011 to 0.7% in 2016; the contraction in output from mining increased from 0.7% to 4.7% over the same period. Medium-term growth prospects remain subdued; economic growth is was estimated at 0.9% in 2017 and was projected to reach 1.1% in 2018 and 1.6% in 2019.

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Key Facts

Flag:
Capital: Pretoria
Area: 1,221,000 sq km
Total Population 2017: 55.4 Million
Urban Population 2017: 73.50%
Female Population 2017: 49.70%
GDP: US$ 276.1 Billion
GNI Per Capita 2015: US$ 6,050
Inflation Rate: 6.09%
Crude Birth Rate (per 1000): 19.90%
Human Development Index (rank / 188): 119
Human Development Index (scale 0 to 1): 0.666
Membership Date: 13/12/1995
Cumulative Approvals (1967-2016): UA 4.3 Billion

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Contacts

Southern Africa Regional Development and Business Delivery Office

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

Tel: +27 12 003 6900

Mr Kapil Kapoor, Director General

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