(Last updated: 31 Mar 2012)

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.

Country facts

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

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.

For the latest key economic indicators and statistics, please see the Department of Foreign Affairs and Trade country economic fact sheet.

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.

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.

Please see the Department of Foreign Affairs and Trade country economic fact sheet for key trade statistics.