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Economy of South Africa

South Africa, formally the Republic of South Africa is an independent nation situated at the southern corner of Africa. It is connected with Namibia, Botswana and to Zimbabwe in the northern region and linked with Mozambique and Swaziland in the eastern region. In terms of land area, South Africa is the 25th largest nation in the world. The estimated GDP of South Africa in terms of PPP (purchasing power parity) is $595.7 billion as of 2013 which is the 26th largest when compared to the rest of nations. South Africa is also the world’s biggest producer of platinum, gold and chromium. Aside from mining, other notable industries of RSA include automobile, machinery, textiles, iron and steel. Pretoria, Cape Town, Bloemfontein are the capital cities of South Africa. The fiscal year of South Africa starts from 1 April and ends on 31 March. The economy of South Africa primarily depends on the natural resources that the nation has. RSA also have well stable and prospering communication system and transport systems.

Imports of South Africa

The estimated import value of South Africa is $99.55 billion as of 2013, which is the 34th largest when compared to the rest of the world. Some of the major import commodities of RSA include machinery, equipment, chemicals, petroleum products, scientific instruments and foodstuffs. The main import partners of South Africa include China, Germany, Saudi Arabia, Japan and India.

Exports of South Africa

The stable economy and industries of South Africa enable it to export a high percentage of commodities to various countries all across the globe. The estimated export value of South Africa is $91.05 billion as of 2013, which is the 42th largest when compared to the rest of the countries. The major export commodities of RSA include gold, diamonds, platinum, minerals and equipment. China, US, Japan, Germany and India are the export partners of South Africa.

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Capital
Pretoria
Dialing Code
+27
Fiscal Year
1 April - 31 March
Currency
Rand (ZAR)
GDP
$491,000,000,000
Exports
$94.21 billion (2011 est.) | Gold, Diamonds, Platinum, Other Metals And Minerals, Machinery And Equipment
Imports
$92.86 billion (2011 est.) | Machinery And Equipment, Chemicals, Petroleum Products, Scientific Instruments, Foodstuffs
Industries
Mining (worlds Largest Producer Of Platinum, Gold, Chromium), Automobile Assembly, Metalworking, Machinery, Textiles, Iron And Steel, Chemicals, Fertilizer, Foodstuffs, Commercial Ship Repair