Support our Sponsor

. . Flags of the World Maps of All Countries

  • |Main Index|
  • 1989 INDEX
  • Country Ranks
  • Home PageCountry Index

    South Africa Economy - 1989

      Overview: The relatively large and developed economy, based on mining and manufacturing, is more comparable to Western developed countries than other African countries. Manufacturing is the most important sector, contributing 22% to GDP in 1986. Mining, finance, insurance, real estate, business services, and domestic trade sectors are next in importance. The mining and agricultural sectors are more significant to the economy than suggested by GDP data, with both sectors being major employers. Almost 65% of exports come from mining, with gold contributing about 40%. In 1987 real GDP rose an estimated 2.6%, and early indications of a good agricultural year and higher mineral prices suggest continued modest growth in 1988. The high unemployment rate of 15-20%, particularly among black workers, is expected to continue as long as the economy grows less than the annual 5% needed to absorb new entrants into the labor force.

      GDP: $81 billion, per capita $2,360; real growth rate 2.6% (1987)

      Inflation rate (consumer prices): 12.3% (1988)

      Unemployment rate: 19% (1987)

      Budget: revenues $18.9 billion; expenditures $23.3 billion, including capital expenditures of $3.8 billion (FY89)

      Exports: $18.5 billion (f.o.b., 1987); @m5commodities--gold 40%, minerals and metals 23%, food 6%, chemicals 3%; @m5partners--US, UK, FRG, Japan, other EC, Hong Kong

      Imports: $15.3 billion (c.i.f., 1987); @m5commodities--machinery 27%, chemicals 11%, vehicles and aircraft 11%, textiles, scientific instruments, base metals; @m5partners--US, FRG, Japan, UK, France, Italy, Switzerland

      External debt: $1.1 billion (March 1988)

      Industrial production: growth rate 2.6% (FY87)

      Electricity: 34,232,000 kW capacity; 155,000 million kWh produced, 4,025 kWh per capita (1988)

      Industries: mining (world's largest producer of diamonds, gold, chrome), automobile assembly, metalworking, machinery, textile, iron and steel, chemical, fertilizer, foodstuffs

      Agriculture: corn, wheat, sugarcane, tobacco, citrus, fruits, cattle and dairy products, sheep and wool; self-sufficient in foodstuffs

      Aid: NA

      Currency: rand (plural--rand); 1 rand (R) = 100 cents

      Exchange rates: rand (R) per US$1--2.3866 (January 1989), 2.2609 (1988), 2.0350 (1987), 2.2686 (1986), 2.1911 (1985)

      Fiscal year: 1 April-31 March

      NOTE: The information regarding South Africa on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of South Africa Economy 1989 information contained here. All suggestions for corrections of any errors about South Africa Economy 1989 should be addressed to the CIA.

    Support Our Sponsor

    Support Our Sponsor

    Please ADD this page to your FAVORITES - - - - -

    Revised 15-Apr-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)