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South Africa

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South Africa profile

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(Last updated: 19 Mar 2009)


Current business situation

The Department of Foreign Affairs and Trade (DFAT) provides advice for business travellers and tourists going to South Africa. This is regularly updated, and should be checked before planning travel.

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Country overview

Capital city: Pretoria (administrative); Cape Town (legislative); Bloemfontein (judicial)
Surface area: 1,219,000 sq km
Population: 47.9 million
Official language(s): Afrikaans, English, IsiZulu, IsiXhosa, Sepedi, Setswana, Sesotho, Xitsonga, Swazi, Tshivenda, IsiNdebele
Head of State & Head of Government: President The Hon Kgalema Motlanthe
Australian exports to South Africa: A$2,408 million
Australian imports from South Africa: A$1,497 million
South Africa's principal export destinations: USA, Japan, Germany
South Africa's principal import sources: Germany, China, USA
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)

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Economic climate

The South African economy is in transition. A century ago it was largely agriculture–based. Fifty years later, mining was the anchor of the economy. Today, financial services are the largest single sector, followed closely by manufacturing.


Key economic indicators and statistics for 2008:

  • GDP – US$300.4 billion
  • GPD per capita – US$6,170
  • Real GDP growth – 3.8 per cent
  • Inflation – 12.7 per cent

(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)

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Political climate

The democratic Constitution approved by the Constitutional Court was signed into law in 1996. It embraces all South Africa’s hopes and is seen as a barrier against racism and any infringement of human rights. However, race continues to be the distinguishing feature of South African politics, with most blacks voting for the ANC, whites and mixed-race coloureds for the Democratic Party and the Asian votes divided among the three.

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Trade relations and statistics

Since the end of apartheid (1993-94), South Africa has become fully integrated into the world economy. South Africa is a party to the General Agreement on Trade and Tariffs and an active member of the World Trade Organization.

South Africa is committed to the development of a free trade zone among the 14 member Southern African development community with which it ran trade surplus of over R13 billion in 1998.

The European Union (EU) and South Africa signed a Free Trade Agreement in October 1999 following four years of negotiation. The agreement will be phased in over a 10 to 12-year period and will essentially liberalise 86 per cent of South Africa's imports from the EU and about 95 per cent of EU imports from South Africa. The overall agreement meets World Trade Organization requirements of 90 per cent coverage. The agreement came into force on 1 January 2000.

Major Australian exports to South Africa (2007-08):

  • Medicaments (including veterinary) – A$852 million
  • Coal – A$147 million
  • Civil engineering equipment and parts – A$49 million
  • Meat (excluding beef) – A$47 million

Major Australian imports from South Africa (2007-08):

  • Passenger motor vehicles – A$755 million
  • Pig iron – A$59 million
  • Goods vehicles – A$59 million
  • Vehicle parts and accessories – A$49 million

(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)

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Sidebar Content

Podcast

Listen to Greg Hull, Austrade's Senior Trade Commissioner for Sub-Saharan Africa, discuss trade and investment opportunities in the region. Download MP3 (10:16min, 5MB)

Export Snapshot

'South Africa: post Apartheid revival'
This 'postcard' by Austrade's Chief Economist, Tim Harcourt, features a short article and key statistics.

OECD Guidelines for Multinational Enterprises

Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government. For more information, go to the ANCP website.

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Disclaimer

Austrade makes no warranty, express or implied as to the fitness for a particular purpose, or assumes any legal liability for the accuracy or usefulness of any information contained in this document. Any consequential loss or damage suffered as a result of reliance on this information is the sole responsibility of the user.