| Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income | Upper Middle Income |
| Level of Development Source: United Nations Possible values: Developed, In Transition and Developing | Developing |
| Economic Trivia | South Africa has the largest economy in Africa. |
| Trade Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. | Top 3 Trade Partners (2021): China, United States, and Germany |
| Top Industries Source: CIA World Factbook | Mining (Platinum, Gold, Chromium); Automobile Assembly; Metalworking; Machinery |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $952,603,158,774 (2022) |
| GDP Growth Rate (annual %) | 2.042% (2022) |
| GDP Per Capita, PPP (current international) | $15,905 (2022) |
Click on a row to display its 5-year graph on the right.
GDP Country Rank 32/197 (2022)
GDP Composition %
Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 7.04% (2022) |
| External debt stocks, total (DOD, current US$) | $170,015,396,603 (2021) |
| Total tax rate (% of commercial profits) | 29.2% (2019) |
| Real Interest Rate (5 year average %) | 3.558% (2022) |
| Manufacturing, value added (% of GDP) | 12.044% (2022) |
| Current Account Balance (BoP, current US$) | ($1,788,749,961) (2022) |
Click on a row to display its 5-year graph on the right.
Labor and Employment [1]
| Labor Force, Total | 24,308,964 (2022) |
| Employment in Agriculture (% of total employment) | 21.296% (2021) |
| Employment in Industry (% of total employment) | 17.258% (2021) |
| Employment in Services (% of total employment) | 61.445% (2021) |
| Unemployment Rate | 29.806% (2022) |
Click on a row to display its 5-year graph on the right.
Trade [1]
| Imports of goods and services (current US$) | $127,706,819,421 (2022) |
| Exports of goods and services (current US$) | $135,738,546,729 (2022) |
| Total Merchandise Trade (% of GDP) | 63.84% (2022) |
| FDI, net inflows (BoP, current US$) | $9,194,808,416 (2022) |
| Commercial Service Exports (current US$) | $12,366,241,811 (2022) |
Click on a row to display its 5-year graph on the right.
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, South Africa’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.
Due to unavailable data the following indicators have been omitted:
- Exports
- FDI, net inflows
- GDP Growth Rate
- GDP Per Capita
- Inflation
- Unemployment
Sources
As an expert in global economics and South Africa's economic landscape, my in-depth knowledge allows me to provide a comprehensive understanding of the concepts presented in the article. The evidence of my expertise lies in my ability to analyze and interpret data from various reputable sources, such as The World Bank, United Nations Comtrade, and the CIA World Factbook. Let's delve into the key concepts outlined in the article:
Income Level:
- Source: The World Bank
- Possible values: High Income, Upper Middle Income, Lower Middle Income, and Low Income
- South Africa's Income Level: Upper Middle Income
Level of Development:
- Source: United Nations
- Possible values: Developed, In Transition, and Developing
- South Africa's Development Level: Developing
Economic Trivia:
- Fact: South Africa has the largest economy in Africa.
Trade:
- Source: United Nations Comtrade
- Top 3 Trade Partners (2021): China, United States, and Germany
- Top 3 Exported Goods (2021):
- Precious Stones & Metals
- Ores
- Motor Vehicles & Parts
Top Industries:
- Source: CIA World Factbook
- Major Industries in South Africa:
- Mining (Platinum, Gold, Chromium)
- Automobile Assembly
- Metalworking
- Machinery
Gross Domestic Product (GDP):
- GDP, PPP (current international): $952,603,158,774 (2022)
- GDP Growth Rate (annual %): 2.042% (2022)
- GDP Per Capita, PPP (current international): $15,905 (2022)
- GDP Country Rank: 32/197 (2022)
- GDP Composition %: Includes Manufacturing, which is reported separately.
Economic Indicators:
- Inflation, consumer prices (annual %): 7.04% (2022)
- External debt stocks, total (DOD, current US$): $170,015,396,603 (2021)
- Total tax rate (% of commercial profits): 29.2% (2019)
- Real Interest Rate (5 year average %): 3.558% (2022)
- Manufacturing, value added (% of GDP): 12.044% (2022)
- Current Account Balance (BoP, current US$): ($1,788,749,961) (2022)
Labor and Employment:
- Labor Force, Total: 24,308,964 (2022)
- Employment in Agriculture (% of total employment): 21.296% (2021)
- Employment in Industry (% of total employment): 17.258% (2021)
- Employment in Services (% of total employment): 61.445% (2021)
- Unemployment Rate: 29.806% (2022)
Trade:
- Imports of goods and services (current US$): $127,706,819,421 (2022)
- Exports of goods and services (current US$): $135,738,546,729 (2022)
- Total Merchandise Trade (% of GDP): 63.84% (2022)
- FDI, net inflows (BoP, current US$): $9,194,808,416 (2022)
- Commercial Service Exports (current US$): $12,366,241,811 (2022)
Economic Snapshot:
- Note: Percentile ranks provide a snapshot of South Africa's economy compared to others in the last 5 years.
- Interpretation: Higher ranks (closer to 100%) indicate a stronger economy for Exports, FDI, and GDP, while lower ranks (closer to 0%) indicate strength for Unemployment and Inflation.
Sources:
- The World Bank (for Income Level and various economic indicators)
- United Nations Comtrade (for Trade-related data)
- CIA World Factbook (for information on Top Industries)
This detailed overview provides a comprehensive understanding of South Africa's economic standing, encompassing income levels, trade dynamics, GDP metrics, economic indicators, labor statistics, and a comparative economic snapshot.
