South Africa Economy


South Africa is the southern most nation of the African continent. The country shares international borders with Namibia, Botswana, Mozambique, Swaziland and Zimbabwe. The country ranks 25th in terms of total land area available. South Africa has a large coastline (2,798 kilometers) along the Atlantic and Indian Oceans. The southern coastal region rises to form small mountains towards the north. The country has a population of 49.3 million (2009 estimates). A majority of the earning population lives in Cape Town, Port Elizabeth, Durban and Johannesburg. These four cities are the primary source of trade for the South African economy. Indigenous races still reside in the tropical forest regions.

South Africa Economy: Introduction

South Africa is one of the most stable economies in the African continent. It is a middle-income country, with fully developed basic infrastructure. The country exhibits several indicators of a developing economy, such as well grown primary, secondary and tertiary sectors and non-dependency on agriculture. The manufacturing, mining and service sectors are the largest contributors to the country’s GDP.

According to the 2009 estimates, South Africa has an annual GDP purchasing power parity of US$488.6 billion. It ranks 26th in the world in terms of GDP. Per capita GDP is US$10,000.

The life expectancy rate at birth is 44.6, and the infant mortality rate per one thousand life births in the country is 54.0. Under the age of 5, the mortality rate (per 1,000) is 67.

The literacy rate, adult total (of people ages 15 and above) is 82.4%.