Page 5 - Nexia SAB&T Business in South Africa Guide 2024

KEY FACTS ON SOUTH AFRICA

Languages: 12 official languages of equal status: Afrikaans, English
(language of commerce, banking, government and official
documentation), isiNdebele, isiXhosa, isiZulu, Sesotho sa
Leboa, Sesotho, Setswana, siSwati, Tshivenda, Xitsonga
and sign language.
Capital cities: Tshwane (Pretoria) – administrative, Cape Town – legislative,
and Bloemfontein (to be renamed Mangaung) – judicial.
Form of State: Federal state comprising a national government and nine
provincial governments.
Legal system: Based on Roman-Dutch Law and the 1996 Constitution.
General: internet domain: .za, metric system, time zone: GMT+2

The South African Economy
Currency: One Rand (R) = 100 cents. International symbol : ZAR
GDP Growth Rate: -0.1% q/q (Q1 2024)
PPI : +4.6% y/y (at June 2024)
CPI: 5.1% y/y (at June 2024)
Unemployment: 45.5% for ages 15 to 34 years, and the current official
national rate stands at 32.9% (Q1 2024)
Key industries: Mining (world’s largest producer of platinum and
chromium), automobile assembly, metal-working,
machinery, technology, IT, textiles, iron, steel, chemicals,
fertilizers, foodstuffs, commercial ship repair.
Exports : Gold, minerals, diamonds, wines, fruits, platinum, other
metals and metal products, automotive components,
machinery.
Imports: Machinery (including computers), transport equipment,
manufactured goods, chemicals, mineral fuels including oil,
scientific instruments, medical apparatus, pharmaceuticals.
Main trading China (18%), Germany (12%), USA (6.8%), India (4.2%),
partners: Saudi Arabia (3.8%,), Japan (3.5%).

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