Overview of South Africa Economy
South Africa Economy is a flourishing one. During the post apartheid period, the South African economy has undergone several changes to cope with the rapidly changing global scenario. Today’s South Africa is characterized by the two-tier economic system. The
economy of South Africa boasts the features of both developing and developed nations of the world.
Features of South Africa Economy
The economy of South Africa is primarily based on its well spread infrastructural network. The industrial expansion of South Africa has much to do with its improved economic scenario. The post apartheid South Africa has witnessed the emergence of information technology, agro processing and electronics industries in the South African economy. Among the other industries of South Africa, textiles, automobiles and fertilizer are worth mentioning. The machinery and minerals industries in South Africa have gained prominence over the last few decades.
Labor division is another interesting feature of South Africa economy. The South African labor pool is classified into two basic categories called formal and informal. Informal labors are primarily concentrated in the unorganized sector of the South Africa economy, while the formal labors dominate the service sector.
As par the yearly estimate for the year 2006, the Gross Domestic Product of South Africa amounted to be around $ 576.4 billion. The service sector of South Africa contributes the largest share in the country’s total annual income.
South Africa Economy has emerged as one of the most prominent economies in the world over the passage of time.
For more information on South Africa economy click on the following links:
Mining in South Africa
South Africa Diamonds
South Africa Gold
Woolworths South Africa
South Africa Trade
South Africa GDP
South Africa Money
South Africa Real Estate
South Africa Business
First National Bank South Africa
Standard Bank of South Africa
