Despite the rebound, higher growth is needed to create employment
- After a 3.7% growth this year, GDP is forecast to increase 4.8% in 2012
- Large budget deficits (5.4% of GDP in 2011 and 4.9% in 2012) as the government has stepped up spending on job creation
- Higher inflation in 2011 (4.9%) and 2012 (5.3%)
- Rising imports will put the current account balance further into deficit (5.8% of GDP in 2012)
- Increasing market intervention by the government could negatively affect international investors´ sentiment
Real GDP growth (%)
|
|
General Information
Capital - Pretoria
Government type - Republic
Currency - Rand (ZAR)
Population - 49.1 million
Status - Upper middle income country
(GDP/capita: US-$ 8,040 in 2011)
Main import sources (2010)
- China - 14.4%
- Germany - 11.4%
- USA - 7.2%
- Japan - 5.3%
Main export markets (2010)
- China - 11.3%
- USA - 10.1%
- Japan - 8.9%
- Germany - 8.2%
_________________
Date July 2011
|
