lag of the Netherlands, which has three
equal horizontal bands of orange (top), white, and blue; the miniature flags
are a vertically hanging 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, lack of job
skills, and barriers to movement into higher-paying fields. Inputs and
outputs thus do not move smoothly into the most productive employments, and
the effectiveness of the market is further lowered by international
constraints on dealings with South Africa. The main strength of the economy
lies in its rich mineral resources, which provide two-thirds of exports.
Average growth of less than 2% in output in recent years falls far short of
the 5% to 6% level needed to absorb some 300,000 new entrants to the labor
force annually. Economic developments in the 1990s will be driven partly by
the changing relations among the various ethnic groups.
GDP:
exchange rate conversion - $104 billion, per capita $2,600; real growth rate
- 0.5% (1991 est.)
Inflation rate (consumer prices):
15.7% (March 1992)
Unemployment rate:
40% (1991); well over 50% in some homeland areas (1991 est.)
Budget:
revenues $29.4 billion; expenditures $35.0 billion, including capital
expenditures of $1.1 billion (FY93 est.)
Exports:
$24.0 billion (f.o.b., 1991)
commodities:
gold 25-30%, minerals and metals 20-25%, food 5%, chemicals 3%
partners:
Italy, Japan, US, FRG, UK, other EC members, Hong Kong
Imports:
$18.8 billion (c.i.f., 1991)
commodities:
machinery 32%, transport equipment 15%, chemicals 11%, oil, textiles,
scientific instruments, base metals
partners:
FRG, Japan, UK, US, Italy
External debt:
$19.0 billion (December 1991)
Industrial production:
growth rate NA%; accounts for about 40% of GDP
Electricity:
46,000,000 kW capacity; 180,000 million kWh produced, 4,100 kWh per capita
(1991)
Industries:
mining (world's largest producer of platinum, gold,