Economy (South Africa)
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     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, 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 emphasis on livestock; products - cattle, poultry, sheep,
         wool, milk, beef, corn, wheat, sugarcane, fruits, vegetables;
         self-sufficient in food
     Economic aid:
         NA
     Currency:
         rand (plural - rand); 1 rand (R) = 100 cents