ECON FACTBOOK

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Economy of South Africa

Population: 53 million in 2013¹

GDP: $351 billion in 2013²

GDP per capita: $6,618 nominal³ ($12,504 PPP⁴) in 2013

GDP growth rate: 1.4% in 2014⁵

Industries

GDP by Industry 2012⁶

Industry sector	Value added ($ billions) 2012	Percent of total
Other activities	158	43.7%
Wholesale, retail trade, restaurants and hotels	56	15.4%
Manufacturing	46	12.8%
Mining and utilities	46	12.6%
Transport, storage and communication	34	9.3%
Construction	14	3.8%
Agriculture, hunting, forestry, fishing	9	2.5%
Total value added	361	100%

Employment

Unemployment rate: 24.9% in 2013⁷

Employment by Industry 2013⁸

Employment sector	Employees (thousands) 2013	Percent of total
Public administration and defence	3,184	22.5%
Wholesale trade, retail trade and repair of motor vehicles	2,998	21.2%
Financial intermediation	1,887	13.3%
Manufacturing	1,730	12.2%
Activities of private households as employers	1,143	8.1%
Construction	1,097	7.8%
Transport, storage and communications	867	6.1%
Agriculture, hunting and forestry	718	5.1%
Mining and quarrying	388	2.7%
Electricity, gas and water supply	122	0.9%
Not elsewhere classified	3	0.02%
Total employment	14,137	100%

Corporations

Top 10 Corporations by Revenue 2013⁹

N/A

Households

Household Wealth: $687 billion in 2014 (196% of GDP)¹⁰

Household Wealth per Adult: $22,073 in 2014¹⁰

Gini Coefficient: .650 in 2011¹¹

Government

Central Government

Central Government Revenue: $89 billion (25% of GDP) in 2013¹²

Central Government Expenditure: $106 billion (30% of GDP) in 2013¹²

Central Government Budget Balance: -$17 billion (-5% of GDP) in 2013¹²

Central Government Public Debt: $156 billion (45% of GDP) in Dec 2014*¹³

Central Government 10 Year Bond Interest Rate: 6.87% on Jan 25, 2015¹⁴

* Public debt calculated using the exchange rate 11.43 ZAR = 1 USD

Government Funds

N/A

Tax Structure

Individual Income Tax Rates and Thresholds in 2013* ¹⁵

18%: $0-$13,998
25% on amount over $13,999 + $2,520: $13,999-$21,872
30% on amount over $21,873 + $4,488: $21,873-$30,271
35% on amount over $30,272 + $7,008: $30,272-$42,344
38% on amount over $42,345 + $11,234: $42,345-$53,980
40% on amount over $53,981 + $15,655: $53,981+

Corporate Tax Rate: 28% in 2014¹⁶

* Individual thresholds calculated using the exchange rate 11.43 ZAR = 1 USD

Monetary Policy

Money Supply (M0): $17 billion (5% of GDP) in Nov 2014*¹⁷

Benchmark Interest Rate: Repo Rate = 5.75% on Jan 25, 2015¹⁸

Total Reserves: $50 billion (14% of GDP) in 2013¹⁹

Exchange Rate: 11.43 South African Rands = 1 U.S. Dollar on Jan 25, 2015²⁰

Inflation: 5.7% in 2013²¹

* Money supply calculated using the exchange rate 11.43 ZAR = 1 USD

Financial Institutions

Top 5 Financial Institutions by Assets 2013²²

Rank	Financial Institution	Assets ($ billions) 2013*
1	Standard Bank	148
2	Barclays Africa	84
3	FirstRand	76
4	Absa Bank	69
5	Nedbank Group	66

* Assets calculated using the exchange rate 11.43 ZAR = 1 USD

International Accounts

Exports: $91 billion (26% of GDP) in 2013²³

Imports: $100 billion (28% of GDP) in 2013²³

Trade Balance: -$9 billion (-2% of GDP) in 2013²³

Foreign Direct Investment Inflow: $8 billion (2% of GDP) in 2013²⁴

Foreign Direct Investment Outflow: N/A

Foreign Aid Inflow: $1 billion (0.2% of GDP) in 2012²⁵

Foreign Aid Outflow: $212 billion (0.06% of GDP) in 2013²⁵

References