South Africa

South Africa is a parliamentary republic, located in Southern Africa. Executive president is elected by Parliament, which consists of two houses: 400-seat National Assembly (the lower house) and 90-seat National Council of Provinces (the upper house). The cabinet is appointed by the president. South Africa world's largest producer of platinum, gold and chromium. Its economy is the 31st largest in the world (by GDP PPP), but is ranked only 115th by GDP per capita. Around 44% of South Africa’s merchandise exports are directed to just four markets (European Union, China, United States and Botswana). Total external trade volume is 31% of GDP. The central bank, South African Reserve Bank (SARB), pursues an inflation-targeting approach to monetary policy and maintains a floating exchange rate regime. The national currency, rand, is to some extent correlated with the prices for key export commodities – particularly, platinum. High levels of unemployment and rural poverty, vulnerability to commodity price fluctuations and current and fiscal account deficits are usually named among key weaknesses of South Africa’s economy.

Names and Codes
Country Name South Africa
Country code ZAF
Currency Name South African rand
Currency Code ZAR
Currency Symbol R
Subunit R1 = 100 cents
Key Pair USD/ZAR
Forex Quote direct
Central Bank Name South African Reserve Bank
Central Bank Abb. SARB
Economy and Trade
GDP (USD billion, 2017) 350
GDP per capita (USD, PPP, 2017) 13500
Real GDP growth (2013-17) 1.5
Inflation (2013-17) 5.6
FDI inflows (% GDP, 2013-17) 1.1
Current account balance (% GDP, 2013-17) -3.9
Trade (% GDP, 2014-16) 31.2
Share in world total exports (%, 2016) 0.47
Monetary Policy and Currency
Exchange rate regime Floating
Monetary policy Inflation targeting
Price stability 4.50%
Real Interest Rate -0.38
Currency - global turnover (USD billion, 2016) 49
Currency - global share (%, 2016) 1.00
Key Pair - global turnover (USD billion, 2016) 40
Key Pair - global share (%, 2016) 0.80
Ranking - Economy
GDP per capita (USD, PPP, 2017)
Real GDP growth (2013-17)
Current account balance (% GDP, 2013-17)
Trade (% GDP, 2014-16)
Ranking - Currency and Monetary Policy
Currency - global turnover (USD billion, 2016)
Key Pair - global turnover (USD billion, 2016)
Real Interest Rate
Inflation (2013-17)
International Trade
Main Export (%, 2015)
Main Import (%, 2015)