South Africa
Type of Government: Republic
Independence: 1910 from the UK
Head of State: President Thabo Mbeki (since June 16, 1999)
2007/2008 UN Development Index ranking (out of 177 countries): 121
2007 TI Corruption Perception Index (out of 179): 43
Political Development: The resulting Union of South Africa operated under a policy of apartheid - the separate development of the races. The 1990s brought an end to apartheid politically and ushered in black majority rule.
Adult HIV Rate: 21.5%
Life Expectancy: 42.45
GDP: $201.4 billion
Inflation: 4.6%
Poverty: 50%
Petroleum: 229,900 bpd
Leading Export Partner: Japan (12.1%)
Economic Note: South Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors; a stock exchange that ranks among the 10 largest in the world; and a modern infrastructure supporting an efficient distribution of goods to major urban centers throughout the region. It is the economic powerhouse of the African continent. However, growth has not been strong enough to lower South Africa’s high unemployment rate, and daunting economic problems remain from the apartheid era - especially poverty and lack of economic empowerment among the disadvantaged groups. South African economic policy is fiscally conservative but pragmatic focusing on targeting inflation and liberalizing trade as means to increase job growth and household income.
