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• GDP: US$587.5 billion (2006 estimate).
• Main imports: Machinery, plastic products, chemicals and vehicles.
• Main exports: Mineral raw materials (gold, diamonds, platinum), agricultural produce, chemical products and machinery.
• Main trade partners: Germany, UK, USA, Japan and China.
• Main imports: Machinery, plastic products, chemicals and vehicles.
• Main exports: Mineral raw materials (gold, diamonds, platinum), agricultural produce, chemical products and machinery.
• Main trade partners: Germany, UK, USA, Japan and China.
Economy
The South African economy dominates the region. Agriculture is strong enough to allow South Africa virtual self-sufficiency in foodstuffs: livestock is reared extensively, and large amounts of sugar, maize and cereals are produced. Wine and fruit are exported in large quantities.
The industrial sector has traditionally been based on mining. The country has considerable deposits of coal, chromium, manganese and vanadium. Its most valuable minerals, however, are gold, platinum and diamonds, of which it has long been the world's largest producer and exporter. The only key mineral that it lacks is oil.
After decades of inflation running into double figures, from 2004 inflation has been between 4% and 5%. This led the government to cut interest rates, which has encouraged greater consumer spending and a construction boom (aided by the impending 2010 FIFA Football World Cup, which further generated a 5% growth). Despite this, few inroads have been made into high unemployment rates, officially at 26.5% in 2005. However, the greatest long-term problem for the workforce is the country's very high level of HIV/AIDS infection.
South Africa is the dominant member of the local Southern African Customs Union (with Botswana, Lesotho, Namibia and Swaziland); it has also joined the Southern African Development Community and the Organisation of African Unity.
The industrial sector has traditionally been based on mining. The country has considerable deposits of coal, chromium, manganese and vanadium. Its most valuable minerals, however, are gold, platinum and diamonds, of which it has long been the world's largest producer and exporter. The only key mineral that it lacks is oil.
After decades of inflation running into double figures, from 2004 inflation has been between 4% and 5%. This led the government to cut interest rates, which has encouraged greater consumer spending and a construction boom (aided by the impending 2010 FIFA Football World Cup, which further generated a 5% growth). Despite this, few inroads have been made into high unemployment rates, officially at 26.5% in 2005. However, the greatest long-term problem for the workforce is the country's very high level of HIV/AIDS infection.
South Africa is the dominant member of the local Southern African Customs Union (with Botswana, Lesotho, Namibia and Swaziland); it has also joined the Southern African Development Community and the Organisation of African Unity.
Business Etiquette
Suits are usually worn for meetings. Appointments are generally necessary and punctuality is expected. Business cards are widely used.
Office hours: Mon-Fri 0830-1630.
Office hours: Mon-Fri 0830-1630.
Conferences & Conventions
South Africa has three major convention centres that host trade shows and exhibitions. These are Sandton Convention Centre in Johannesburg, Cape Town International Convention Centre and the International Convention Centre in Durban. Smaller conference venues exist in all other major towns, provided mainly by hotels and universities. SATOUR actively promotes business tourism and South African conference venues and there are sections on the website dedicated to conferencing. The Tourism Council of South Africa is currently in the process of grading venues to ensure high standards of service and facilities for conference organisers. For details (see Contact Addresses).
Business Contacts
South African Chamber of Business (SACOB)
24 Sturdee Avenue, Rosebank, Gauteng, South Africa
Tel: (11) 446 3800.
Website: www.sacob.co.za
Department of Trade & Industry
77 Meintjies Street, Pretoria 0002, South Africa
Tel: (12) 394 9500.
Website: www.dti.gov.za
Southern African Association for the Conference Industry (SAACI)
PO Box 414, Kloof 3640, South Africa
Tel: (31) 360 1281.
Website: www.saaci.co.za
Cape Town Regional Chamber of Commerce and Industry
19 Louis Gradner Street, Cape Town 8001, South Africa
Tel: (21) 402 4300.
Website: www.capechamber.co.za
24 Sturdee Avenue, Rosebank, Gauteng, South Africa
Tel: (11) 446 3800.
Website: www.sacob.co.za
Department of Trade & Industry
77 Meintjies Street, Pretoria 0002, South Africa
Tel: (12) 394 9500.
Website: www.dti.gov.za
Southern African Association for the Conference Industry (SAACI)
PO Box 414, Kloof 3640, South Africa
Tel: (31) 360 1281.
Website: www.saaci.co.za
Cape Town Regional Chamber of Commerce and Industry
19 Louis Gradner Street, Cape Town 8001, South Africa
Tel: (21) 402 4300.
Website: www.capechamber.co.za
