Stagnation ahead due to electricity blackouts, factionalized elites and policy distraction
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
Updated in February 2023.
Swipe to view more
GDP |
|
|
Population |
|
|
Form of state | Republic | |
Head of government | Cyril Ramaphosa (President) | |
Next elections | 2024, presidential and legislative |

- Key strategic economic and political player in the region, with a rich natural resource base (gold, platinum, chrome, manganese, vanadium, coal and diamonds) and judicial and business environments ranking above the regional average
- Exchange-rate flexibility helps to cushion external shocks and the central bank has an established track record of proactive and credible policy stances
- Deep financial markets and a sound banking sector (overall ample liquidity, good asset quality, satisfactory capitalization)
- 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)

- Social tensions and insecurity persist amid high poverty, income inequality and endemic unemployment (above 30%)
- Structural issues weigh on potential growth while the electricity crisis has been declared a national state of disaster, with flood damages increasing the losses caused by load shedding
- Elevated dependence on portfolio investment flows and aging infrastructure (energy and transport) limit the development of a diversified industrial base
Trade structure by destination/origin
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
China
24.3%
![]() |
1 |
![]() |
United States
11.7%
![]() |
2 |
![]() |
Germany
9.9%
![]() |
3 |
![]() |
India
8.2%
![]() |
4 |
![]() |
United Kingdom
7.7%
![]() |
5 |
![]() |
Trade structure by product
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Metalliferous ores and metal scrap
24.3%
|
1 |
9.0%
Road vehicles
|
Non-ferrous metals
22.1%
|
2 |
8.1%
Petroleum, petroleum products and related materials
|
Road vehicles
9.9%
|
3 |
6.1%
Other industrial machinery and parts
|
Iron and steel
7.8%
|
4 |
5.9%
Electrical machinery, apparatus and appliances, n.e.s.
|
Coal, coke and briquettes
7.0%
|
5 |
4.9%
Specialised machinery
|
Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
Contacts
Read our latest reports
-
Americas
-
Europe
-
Asia Pacific
-
Middle East
-
Africa