Country Info: South Africa
Bilateral Trade by Sector: United States - South Africa
Value ('1000 dollars), US 'domestic exports' *, US 'imports for consumption' / Includes year-to-date data
Economic Background
South Africa is a middle-income emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors; and a stock exchange that is Africa’s largest and among the top 20 in the world.
Economic growth has decelerated in recent years, slowing to an estimated 0.7% in 2017. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is roughly 27% of the workforce, and runs significantly higher among black youth.
Even though the country's modern infrastructure supports a relatively efficient distribution of goods to major urban centers throughout the region, unstable electricity supplies retard growth. Eskom, the state-run power company, is building three new power stations and is installing new power demand management programs to improve power grid reliability but has been plagued with accusations of mismanagement and corruption and faces an increasingly high debt burden.
South Africa's economic policy has focused on controlling inflation while empowering a broader economic base; however, the country faces structural constraints that also limit economic growth, such as skills shortages, declining global competitiveness, and frequent work stoppages due to strike action.
The government faces growing pressure from urban constituencies to improve the delivery of basic services to low-income areas, to increase job growth, and to provide university level-education at affordable prices. Political infighting among South Africa’s ruling party and the volatility of the rand risks economic growth.
International investors are concerned about the country’s long-term economic stability; in late 2016, most major international credit ratings agencies downgraded South Africa’s international debt to junk bond status.
Agricultural products
sugar cane, maize, milk, potatoes, grapes, poultry, oranges, wheat, soybeans, beef
Industries
mining (world's largest producer of platinum, gold, chromium), automobile assembly, metalworking, machinery, textiles, iron and steel, chemicals, fertilizer, foodstuffs, commercial ship repair
Industrial production growth rate
1.2% (2017 est.)
(Source: World Factbook, 2021)
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DRAFT guidelines for for the application of a DAFF quota allocation import permit
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Copy of letter by Senators Coons and Isakson to Pres Zuma re poultry
Copy of letter sent by US Senators Coons and Isakson to South Africa's President Zuma, September 2015. This relates to the 'poultry' issue in the context of the South Africa Out-Of-Cycle Review under AGOA. The Senators urged South African President Jacob Zuma to act expeditiously to resolve remaining elements of the US-South Africa agreement reached in Paris earlier this year and allow US poultry exports to South Africa to resume.
South Africa - United States (TIFA) Agreement
Trade and Investment Framework Agreement between South Africa and the United States.
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