Economy, Finance and Trade: South Africa

May 2023

The South African economy witnessed a slowdown in 2022, impacted by record power blackouts, resulting in load shedding and major business losses. A slowdown in industrial production weighed on exports, while the energy shortage raised import bills and exacerbated the trade balance. Looking forward, exports are expected to pick up due to the implementation of the regional trade agreements, while inflationary pressure is expected to ease, impacted by tightening monetary policy.

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Economy, Finance and Trade: South Africa


Record power blackouts leads to a slowdown in economic development
Inflation in South Africa is forecast to decrease, driven by a tightened monetary stance
Despite a short-term slowdown due to energy shortages, exports are set to pick up
Global economic uncertainty weights on South African FDI flows
Unemployment-driven welfare spending hinders budget deficit reduction


Chart 1 Economic Landscape of South Africa 2022-2027
Chart 2 Real GDP Growth in South Africa 2010-2027
Chart 3 GDP Size and Growth 2017-2027
Chart 4 Gross Value Added by Sector in South Africa 2022
Chart 5 Domestic Demand 2022 and Period Growth 2017-2022
Chart 6 Standardised Business Confidence Index 2017-2024
Chart 7 Standardised Consumer Confidence Index 2017-2024
Chart 8 Productivity 2017/2022
Chart 9 Productivity by Sector in South Africa 2022 and CAGR 2017-2022
Chart 10 Monetary Landscape of South Africa 2022
Chart 11 Inflation 2017-2027
Chart 12 Average Inflation 2017-2027
Chart 13 Interest Rates in South Africa 2017-2024
Chart 14 Exchange Rates 2017-2024
Chart 15 Money Supply Growth and Money Velocity in South Africa 2017-2024
Chart 16 Foreign Trade Landscape of South Africa 2022
Chart 17 Exports and Export Price Index in South Africa 2017-2022
Chart 18 Exports by Commodity in South Africa 2022
Chart 19 Top 10 Export Destinations 2022 and Period Growth 2017-2022
Chart 20 Imports and Import Price Index in South Africa 2017-2022
Chart 21 Imports by Commodity in South Africa 2022
Chart 22 Top 10 Import Origins 2022 and Period Growth 2017-2022
Chart 23 Investment Landscape of South Africa 2021-2022
Chart 24 Foreign Direct Investment Inflows and FDI intensity 2021
Chart 25 Foreign Direct Investment Inflows and Outflows in South Africa 2016-2021
Chart 26 Gross Fixed Capital Formation in South Africa 2017-2024
Chart 27 Government Budget Landscape of South Africa 2022
Chart 28 Public Debt 2022
Chart 29 Government Revenue 2022
Chart 30 Government Expenditure 2022
Chart 31 Government Expenditure by Economic Type in South Africa 2022
Chart 32 Government Expenditure by Function in South Africa 2022 and Period Growth 2017-2022
Chart 33 Baseline and Scenario Forecasts in South Africa 2020-2026

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