South Africa

South Africa country profile

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Short name South Africa
Official  name Republic of south Africa
Location South  Africa
Capital Pretoria
Population 50.7 million inhabitants
Area  1.22 million sq km (470,693 sq miles)
Languages 11 official languages including English, Afrikaans, Sesotho, Setswana, Xhosa and Zulu
Religions

 

 

South Africa is located at Africa’s southern tip and has 2,798 km of coastline on the Atlantic and Indian Oceans. It borders Namibia, Botswana, Zimbabwe, and Swaziland. Lesotho is a country completely surrounded by South Africa.Up until 1994 it was ruled by a white minority which enforced a separation of races with its policy called apartheid.

Christianity, Islam, indigenous beliefs

 

 

 

 

 

 

South Africa has one of the continent’s biggest and most developed economies.

 

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South Africa is the 36th largest export economy in the world and the 46th most complex economy according to the Economic Complexity Index (ECI). In 2014, South Africa exported $106B and imported $102B, resulting in a positive trade balance of $3.39B. In 2014 the GDP of South Africa was $350B and its GDP per capita was $13k.

 

The top export destinations of South Africa are China ($9.8B), the United States ($8.95B), India ($7.07B), the United Kingdom ($6.18B) and Hong Kong ($6.09B). The top import origins are China ($16.1B), Germany ($8.5B), Saudi Arabia ($7.13B), the United States ($6.96B) and India ($5.48B).

South Africa borders Botswana, Lesotho, Mozambique, Namibia, Swaziland and Zimbabwe.

 

Trade Balance

As of 2014 South Africa had a positive trade balance of $3.39B in net exports. As compared to their trade balance in 1995 when they had a negative trade balance of $7.05B in net imports.

 

 

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Exports

The top exports of South Africa are Gold ($11.9B), Diamonds ($10.3B), Platinum ($7.45B), Coal Briquettes ($5.89B) and Iron Ore ($5.52B), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Crude Petroleum ($16.2B), Refined Petroleum ($6.13B), Cars ($4.85B), Computers ($2.31B) and Gold ($2.17B).

 

In 2014 South Africa exported $106B, making it the 36th largest exporter in the world. During the last five years the exports of South Africa have increased at an annualized rate of 6.6%, from $77.3B in 2009 to $106B in 2014. The most recent exports are led by Gold which represents 11.2% of the total exports of South Africa, followed by Diamonds, which account for 9.6%.

 Imports

In 2014 South Africa imported $102B, making it the 33rd largest importer in the world. During the last five years the imports of South Africa have increased at an annualized rate of 8%, from $70.2B in 2009 to $102B in 2014. The most recent imports are Crude Petroleum ($16.2B), Refined Petroleum ($6.13B), Cars ($4.85B), Computers ($2.31B) and Gold ($2.17B).

 

Destinations

The top export destinations of South Africa are China ($9.8B), the United States ($8.95B), India ($7.07B), the United Kingdom ($6.18B) and Hong Kong ($6.09B).

Origins

The top import origins of South Africa are China ($16.1B), Germany ($8.5B), Saudi Arabia ($7.13B), the United States ($6.96B) and India ($5.48B).

Finance and Investment

The U.N. classifies South Africa as a middle income country. It has abundant natural resources and well developed industries. Its stock exchange is one of the top twenty in the world.

Outside of Cape Town, Port Elizabeth, Durban, and Pretoria/Johannesburg, development is poor. There is high unemployment and a large amount of income inequality.

After labor laws were relaxed and privatization increased after 2000, economic growth increased. South Africa is the largest consumer and producer of energy in Africa. A large amount of revenue comes from tourism.

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