flag of the old Orange Free State with a horizontal flag of
the UK adjoining on the hoist side and a horizontal flag of the old
Transvaal Republic adjoining on the other side

@South Africa, Economy

Overview:
Many of the white one-seventh of the South African population enjoy
incomes, material comforts, and health and educational standards equal
to those of Western Europe. In contrast, most of the remaining
population suffers from the poverty patterns of the Third World,
including unemployment and lack of job skills. The main strength of
the economy lies in its rich mineral resources, which provide
two-thirds of exports. Economic developments for the remainder of the
1990s will be driven largely by the new government's attempts to
improve black living conditions and to set the country on an
aggressive export-led growth path. The shrinking economy in recent
years has absorbed less than 5% of the more than 300,000 workers
entering the labor force annually. Local economists estimate that the
economy must grow between 5% and 6% in real terms annually to absorb
all of the new entrants.
National product:
GDP - purchasing power equivalent - $171 billion (1993 est.)
National product real growth rate:
1.1% (1993 est.)
National product per capita:
$4,000 (1993 est.)
Inflation rate (consumer prices):
9.7% (1993 est.)
Unemployment rate:
50% (1994 est.)
Budget:
revenues:
$26.3 billion
expenditures:
$34 billion, including capital expenditures of $2.5 billion (FY94
est.)
Exports:
$24.3 billion (f.o.b., 1993)
commodities:
gold 27%, other minerals and metals 20-25%, food 5%, chemicals 3%
partners:
Italy, Japan, US, Germany, UK, other EC countries, Hong Kong
Imports:
$18.1 billion (f.o.b., 1993)
commodities:
machinery 32%, transport equipment 15%, chemicals 11%, oil, textiles,
scientific instruments
partners:
Germany, US, Japan, UK, Italy
External debt:
$17 billion (1993 est.)
Industrial production:
growth rate NA%; accounts for about 40% of GDP
Electricity:
capacity:
46,000,000 kW
production:
180 billion kWh
consumption per capita:
4,100 kWh (1991)
Industries:
mining (world's largest producer of platinum, gold, chromium),
automobile assembly, metalworking, machinery, textile, iron and steel,
chemical, fertilizer, foodstuffs
Agriculture:
accounts for about 5% of GDP and 30% of labor force; diversified
agriculture, with emphas