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| Capital city: |
Pretoria (administrative); Cape Town (legislative); Bloemfontein (judicial) |
| Surface area: |
1,219,000 sq km |
| Population: |
47.5 million |
| Official language(s): |
Afrikaans, English, IsiZulu, IsiXhosa, Sepedi, Setswana, Sesotho, Xitsonga, Swazi, Tshivenda, IsiNdebele |
| Head of State & Head of Government: |
President The Hon Mr Thabo Mbeki |
| Australian exports to South Africa: |
A$2,316 million |
| Australian imports from South Africa: |
A$1,402 million |
| South Africa's principal export destinations: |
Japan, USA, UK |
| South Africa's principal import sources: |
Germany, China, USA | (Source: Department of Foreign Affairs and Trade - Country economic fact sheet)
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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 2007:
- GDP – US$274.5 billion
- GPD per capita – US$5,724
- Real GDP growth – 5.3 per cent
- Inflation – 9.4 per cent
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)
There are also existing opportunities for specific Australian consumer goods within the South African market. Specifically unique and novel goods in giftware, babycare and homeware, are suitable.
In order for consumer goods to be successful in the South African market they must be competitively priced. Austrade South Africa intends to lead a buyer delegation to Australia each year.
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Political climate
The new 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.
In June 1999, the ruling African National Congress (ANC) won the second democratic election. The most striking aspect of the 1999 poll was the demise of Afrikaaner Nationalism, the dominant political force in the apartheid era. 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.
Business day has more information about South Africa's trade relations with the rest of the African continent.
Major Australian exports to South Africa (2006-07):
- Medicaments (including veterinary) – A$565 million
- Coal – A$206 million
- Meat (excluding bovine) – A$68 million
- Nickel - A$56 million
Major Australian imports from South Africa (2006-07):
- Passenger motor vehicles – A$702 million
- Motor vehicle parts - A$54 million
- Transport vehicles - A$46 million
- Pig iron - A$45 million
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)
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