South Africa: economy, interest rate and stock market
The central bank's policy rate is 7.25% (up 0.25 points over 12 months). Inflation was 3.2% in 2025 and GDP grew 1.1% (World Bank).
Interest rate
7.25% set by South African Reserve Bank. Last change: +0.25 pt on 25 Sep 2026. Over 12 months: +0.25 pt. As of 12 Oct 2026.
| Took effect | Rate | Change |
|---|---|---|
| 25 Sep 2026 | 7.25% | +0.25 pt |
| 29 May 2026 | 7.00% | +0.25 pt |
| 21 Nov 2025 | 6.75% | −0.25 pt |
| 1 Aug 2025 | 7.00% | −0.25 pt |
| 30 May 2025 | 7.25% | −0.25 pt |
| 31 Jan 2025 | 7.50% | −0.25 pt |
| 22 Nov 2024 | 7.75% | −0.25 pt |
| 20 Sep 2024 | 8.00% | −0.25 pt |
| 26 May 2023 | 8.25% | start of our data |
All countries: central bank interest rates. Rates move stocks through borrowing costs and the currency: rising rates usually weigh on rate-sensitive stocks and help banks, falling rates the opposite.
Stock market
Economy at a glance
| Measure | Latest | Year |
|---|---|---|
| Economy size (GDP) | $427.2 billion | 2025 |
| GDP per person | $6,598 | 2025 |
| GDP growth | 1.1% | 2025 |
| Inflation (consumer prices) | 3.2% | 2025 |
| Unemployment | 32.4% | 2025 |
| Population | 64.7 million | 2025 |
| Current account balance, % of GDP | -0.4% | 2025 |
| Central government debt, % of GDP | 82.8% | 2024 |
| Exports of goods and services, % of GDP | 31.4% | 2025 |
| Imports of goods and services, % of GDP | 29.5% | 2025 |
Source: World Bank World Development Indicators, annual figures. The latest year is usually the previous calendar year, so these numbers are not live and are revised later by the World Bank.
Trade structure
Share of merchandise exports and imports by product group. ■ exports ■ imports.
High-technology products are 5.7% of manufactured exports (2024).
- Fuels are 17.7% of South Africa's merchandise imports against 8.2% of its exports. A rise in oil and gas prices raises its import bill and tends to press on its currency and on fuel-heavy industries; a fall does the reverse.
- Ores and metals are 30.4% of merchandise exports, so metal prices matter for export earnings.
- Exports plus imports equal 61% of GDP, so the economy is moderately open to trade.
- The current account was a deficit of 0.4% of GDP (2025): the country spends more abroad than it earns and relies on foreign capital to fill the gap.
These describe the structure of trade, using the figures above. They are not forecasts and not investment advice. Latest available year differs by group (usually 2024 or 2025).
More on South Africa
Sources: Bank for International Settlements and central bank decisions (policy rates), World Bank (economy and trade), StocksXray price history (index). Educational only, not financial advice.