SOUTH AFRICA

Challenging times

C3

SENSITIVE RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

The country risk assessments are your North Star metrics to make the right decision for your business and understand the risks in international trade. We have always the best solution for your needs

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GDP
USD351,4bn (World ranking 37, World Bank 2019)
Population
58,56mn (World ranking 24, World Bank 2019)
Form of state Republic
Head of government Cyril Ramaphosa (President)
Next elections 2024, presidential and legislative
  • Rich natural resource base (gold, platinum, chrome, manganese, vanadium, coal and diamonds).
  • Key strategic economic and political player in the region
  • Judicial and business environments aligned with advanced standards
  • Exchange rate flexibility helps to cushion external shocks and the central bank has an established track record of proactive and credible policy stance
  • Deep financial markets and a sound banking sector (overall ample liquidity, good asset quality, satisfactory capitalisation)
  • Dramatic deterioration of public debt ratios because of the activation of state guarantees to SOEs
  • Large budget deficit because of growing wage bill, public debt interest payments and transfers to loss-making SOEs
  • Structural issues weigh on potential growth (low productivity, public sector inefficiencies, skilled human capital shortages, weak competitiveness) while product and labor markets remain highly rigid
  • High dependence on volatile portfolio investment flows to finance the current account deficit
  • Underinvestment and aging infrastructure (energy and transport) limit the development of a diversified industrial base
  • High poverty, income inequality and unemployment (above 30%) are sources of social tensions

Trade structure by destination/origin

(% of total)

Exports Rank Imports
China 9%
1
18% China
United States 7%
2
12% Germany
Germany 7%
3
7% United States
Botswana 5%
4
4% India
Namibia 5%
5
4% Saudi Arabia

Trade structure by product

(% of total)

Exports Rank Imports
Road vehicles 12%
1
12% Petroleum, petroleum products and related materials
Non-ferrous metals 11%
2
7% Road vehicles
Metalliferous ores and metal scrap 11%
3
5% Other industrial machinery and parts
Iron and steel 7%
4
5% Telecommunication and sound recording apparatus
Coal, coke and briquettes 5%
5
5% Electrical machinery, apparatus and appliances, n.e.s.
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