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South Africa is a middle-income, developing country with an abundant supply of resources, well-developed financial, legal, communications, energy, and transport sectors, a stock exchange that ranks among the 10 largest in the world, and a modern infrastructure supporting an efficient distribution of goods to major urban centers throughout the region. However, growth has not been strong enough to cut into the 30% unemployment, and daunting economic problems remain from the apartheid era, especially the problems of poverty and lack of economic empowerment among the disadvantaged groups. Other problems are crime, corruption, and HIV/AIDS. At the start of 2000, President MBEKI vowed to promote economic growth and foreign investment by relaxing restrictive labor laws, stepping up the pace of privatization, and cutting unneeded governmental spending. His policies face strong opposition from organized labor. GDP: |
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South Africa is a middle-income, developing country with an abundant supply of resources, well-developed financial, legal, communications, energy, and transport sectors, a stock exchange that ranks among the 10 largest in the world, and a modern infrastructure supporting an efficient distribution of goods to major urban centers throughout the region. However, growth has not been strong enough to cut into the 30% unemployment, and daunting economic problems remain from the apartheid era, especially the problems of poverty and lack of [economic empowerment]? among the disadvantaged groups. Other problems are crime, corruption, and HIV/AIDS. At the start of 2000, President Mbeki vowed to promote economic growth and foreign investment by relaxing restrictive labour laws, stepping up the pace of privatization, and cutting unneeded governmental spending. His policies face strong opposition from organized labour. GDP: |
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Industries: Mining (world's largest producer of platinum, gold, chromium), automobile assembly, metalworking, machinery, textile, iron and steel, chemicals, fertilizer, foodstuffs |
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Exports - partners: UK, Italy, Japan, US, Germany (1997) Imports: |
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Exchange rates: Rand (R) per US$1 - 6.12439 (January 2000), 6.10948 (1999), 5.52828 (1998), 4.60796 (1997), 4.29935 (1996), 3.62709 (1995) Fiscal year: |
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