About South Africa > Travel Guide > Business

Business


Business Profile
Statistics
GDP: US$506.1 billion (2008 estimate).
Main imports: Machinery, plastic products, chemicals, vehicles and food.
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: it has long been the one of the world's largest producer and exporter of gold, platinum and diamonds, and it also has considerable deposits of coal, chromium, manganese and vanadium.

After decades of inflation running into double figures, the period from 2004 to the onset of the global financial downturn in 2008 were marked by healthy growth matched by inflation of under 5%. Reduced interest rates encouraged greater consumer spending and a construction boom, partly in preparation for the 2010 FIFA Football World Cup. Unemployment is falling, but remains high, at 21.7% in 2008. Other long-term problems include poverty, a high level of HIV/AIDS infection and inadequacies in the country's infrastructure, particularly the public transport system and electricity supply network.

South Africa is the dominant member of the local Southern African Customs Union, SACU (with Botswana, Lesotho, Namibia and Swaziland); it is also a member of the Southern African Development Community (SADC) and the African Union (AU).
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.
Business Contacts
Department of Trade & Industry
77 Meintjies Street, Sunnyside, Pretoria 0002, South Africa
Tel: 012 394 9500.
Website: www.dti.gov.za

South African Chamber of Commerce and Industry (SACCI)
Chamber House, 24 Sturdee Avenue, Rosebank, Johannesburg 2196, South Africa
Tel: 011 446 3800.
Website: www.sacci.org.za

Southern African Association for the Conference Industry (SAACI)
PO Box 13116, Dowerglen 1612, South Africa
Tel: 011 805 7272.
Website: www.saaci.co.za
Conferences & Conventions
South Africa has three major trade show, conference and exhibition venues: Sandton Convention Centre in Johannesburg, Cape Town International Convention Centre and the International Convention Centre in Durban. Smaller venues exist in the hotels and universities of other major towns. South African Tourism provides information for conference organisers and delegates: see the Business Tourism section of their website (www.southafrica.net).

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