In the settlement areas of the white ones and close of the metropolises South Africa developed to a strongly industrially coined/shaped developing country. The former Homelands however resembles rather a Entwicklungsland.1998 ranked South Africa with a Pro-Kopf-Einkommen of 3168 US Dollar in the statistics over the states of east and South-east Europe, however half of the black population lives a quarter below the poverty border, even in absolute poverty.

Unemployment was indicated for 2002 as approx. 37%. The gross national product amounted to 182 billion US Dollar in the year 2003 and is the highest of all African states thereby.

2002 experienced South Africa an upswing, so that the gross national product rose around 3 %. Here the rise of the gold price affected itself among other things. The inflation rate rose to 9,6 %. The gross national product per head amounted to 2820 US Dollar (2001), but rose the public revenues, why the new indebtedness 2001/2002 amounted to only 1.6 % GROS DOMESTIC PRODUCT, the total indebtedness of the country amounted to approximately 45 % GROS DOMESTIC PRODUCT. The commercial balance sheet exhibited 2002 a surplus of 4 billion US Dollar. The most important trade partners were the USA (8 %), Great Britain (8 %), Germany (7 %) and Japan (4 %).

In the year 2003 the economy grew material by 1,9%, the inflation rate sank on 6,8%. Per head wuch the BSP from 3.710 US Dollar to 3.920 US Dollar. The growth weakness of the yearly 2003 is to be due particularly to a slow-acting export and agriculture. The South African government counts for 2004 on a gros domestic product growth of 2,9%. Economic situation-animating impulses are to proceed from the new infrastructure program of the government, a rising total demand and recovery of the export trade and industry. The first quarter 2004 pointed a growth from 3,1 per cent opposite 1,2% in the first quarter 2003 and thus seems the prognoses to be confirmed.

The contribution of the different sectors of the economy to the gross national product is to 32 % with 64 % by the service sector, by the industry, to which today also a developed automobile industry counts, and only 4 % come from the agriculture. represent an important restaurant factor.

Of South Africa are gold, diamonds, coal, platinum, chrome as well as iron ore. To South Africa approximately 600 tons of gold are promoted annually. This is a considerable portion of the world-wide gold promotion from approximately 1500 to 2000 tons. South Africa is a producer of gold, platinum and chrome, leading world-wide. 2002 were the portion of gold production of the world market about 15 %. South Africa, particularly the northeast part, belongs to the countries of the earth richest at with exception of oil and bauxite all mineral raw materials occur. The following table supplies an overview of the of South Africa:

Agriculture

The agriculture contributes only about with 4 % to the gross domestic product, however, just like the mining industry, work offers many humans. Mainly corn, wheat, Zuckerrohr, tobacco, wine, cotton and cut flowers are cultivated and exported. By the situation of the country in the Southern Hemisphere thereby the European and North American off Season can be used in case of the fruits, in which in the there countries cannot be harvested. For example South Africa supplies oranges in the winters Weintrauben, asparagus or also pears to Europe, in the summer against it.

The government had announced extensive Landreformen after overcoming of the apartheid, since about 1.4 % of the population, predominantly white one, possessed approximately two thirds of the agrarian usable surface. On the one hand it concerned thereby around "land return" - a program and on the other hand a "rearrangement program". The black owners had been sold 1913 by the issued "Native's country act" (native land law). The rearrangement program should place landlooking for Kleinbauern country to the land development to the order, to 2003 wanted one in particular the high unemployment ratios to decrease (37 %). Both programs advanced however very sluggishly. It developed a movement that land lots, which undertook 2003 and to the elections 2004 campaigns ("no country - no voice"). The South African governments try to avoid radical developments as in Simbabwe.

See also: Viticulture in South Africa

Banking

The most important bank of the state is the South African central bank.

The majority of the black ones is however too poor, in order to be able to afford an account. 2002 did not have 72 % of the black population a bank account. Altogether only 40% the South African carry their money to the bank, of it belong to 88 % of the white minority. With the South Africans of Indian origin over banks account, with the colored ones (inhabitants of mixed origin) is it orders 47 % 47 %.

Industry

Armaments industry

Due to the apartheid regime South Africa developed itself a relatively large armaments industry with occasionally more than 160,000 employing. To the privatisation of the national enterprises this number went strongly back. At present approx. 25,000 persons are to be busy in approximately 700 enterprises. Of it alone nearly 12,000 persons are with Denel (vector, Pretoria Metal Pressing, LIW,"…) employed. (see also: Armaments industry in Africa)

Further economical data

• Working population: 17 Mill. (1998)
• Within the ranges: Agriculture 30%, industry 25%, services 45% (1999)
• External indebtedness: $24,7 billion (2002)
• Received economic aid: $487,5 million (2000)
• Generation of current: 195,6 mia. a KW/H (2001) - of it 93.5% fossil fuels, 5.5% atomic energy, 1.1% water power, 0.0% other sources

Branches of industry:

• Raw material promotion (world-wide largest promoter of platinum, gold, chrome, diamond)
• Automobile production, metalworking, machine production, iron and steel production, textile production, chemical industry (fertilizer)
• Food production: Grain, Zuckerrohr, fruit and vegetable, meat, milk products, wine

Trade:

• Export goods (1998): Gold, diamonds, platinum, further metals and minerals, machines and plants
• Export partner (2002): UK 12.8%, the USA 12.7%, Germany 9.3%, Japan 8.9%, Italy 5.8%
• Import goods (2000): Machines and plants, chemical products, oil products, scientific instruments, food
• Import partner (2002): Germany 15.5%, the USA 9.5%, UK, 9.1%, Japan 5.8%, Saudi Arabia 5.3%, France 5%, China 4.9%

Articles in category "Economics of South Africa"

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