South Africa
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SOUTH AFRICA
South Africa is the 25th-largest country in the world by land area, and with close to 53 million people, is the world's 24th-most populous nation. About 80 percent of South Africans are of black African ancestry,[3] divided among a variety of ethnic groups speaking different Bantu languages, nine of which have official status.[9] The remaining population consists of Africa's largest communities of European, Asian, and multiracial ancestry. All ethnic and linguistic groups have political representation in the country's constitutional democracy, which comprises a parliamentary republic and nine provinces. Since the end of apartheid, South Africa's unique multicultural character has become integral to its national identity, as signified by the Rainbow Nation concept. South Africa is ranked as an upper-middle income economy by the World Bank, and is considered to be a newly industrialised country.[12][13] Its economy is the largest and most developed in Africa, and the 28th-largest in the world.[14] In terms of purchasing power parity, South Africa has the fifth-highest per capita income in Africa, although poverty and inequality remain widespread, with about a quarter of the population unemployed and living on less than US$1.25 a day.[15][16] Nevertheless, South Africa has been identified as a middle power in international affairs, and maintains significant regional influence. Economy
South Africa has a mixed economy, the largest in Africa in terms of both nominal GDP (at $375.944 billion) and GDP at purchasing power parity (at $608.804 billion). It also has a relatively high GDP per capita compared to other countries in Sub-Saharan Africa ($11,750 at PPP as of 2012). Despite this, South Africa is still burdened by a relatively high rate of poverty and unemployment, and is also ranked in the top 10 countries in the world for income inequality,measured by the Gini coefficient. Unlike most of the world's poor countries, South Africa does not have a thriving informal economy; according to OECD estimates, only 15% of South African jobs are in the informal sector, compared with around half in Brazil and India and nearly three-quarters in Indonesia. The OECD attributes this difference to South Africa's widespread welfare system. World Bank research shows that South Africa has one of the widest gaps between per capita GNP versus its Human Development Index ranking, with only Botswana showing a larger gap. After 1994 government policy brought down inflation, stabilised public finances, and some foreign capital was attracted, however growth was still subpar. From 2004 onward economic growth picked up significantly; both employment and capital formation increased. South Africa is a popular tourist destination, and a substantial amount of revenue comes from tourism.Illegal immigrants are involved in informal trading. Many immigrants to South
Africa continue to live in poor conditions, and the immigration policy has become increasingly restrictive since 1994.[104] Principal international trading partners of South Africa—besides other African countries— include Germany, the United States, China, Japan, the United Kingdom and Spain. The South African agricultural industry contributes around 10% of formal employment, relatively low compared to other parts of Africa, as well as providing work for casual labourers and contributing around 2.6% of GDP for the nation.[106] Due to the aridity of the land, only 13.5% can be used for crop production, and only 3% is considered high potential land.[107]
South Africa is the 25th-largest country in the world by land area, and with close to 53 million people, is the world's 24th-most populous nation. About 80 percent of South Africans are of black African ancestry,[3] divided among a variety of ethnic groups speaking different Bantu languages, nine of which have official status.[9] The remaining population consists of Africa's largest communities of European, Asian, and multiracial ancestry. All ethnic and linguistic groups have political representation in the country's constitutional democracy, which comprises a parliamentary republic and nine provinces. Since the end of apartheid, South Africa's unique multicultural character has become integral to its national identity, as signified by the Rainbow Nation concept. South Africa is ranked as an upper-middle income economy by the World Bank, and is considered to be a newly industrialised country.[12][13] Its economy is the largest and most developed in Africa, and the 28th-largest in the world.[14] In terms of purchasing power parity, South Africa has the fifth-highest per capita income in Africa, although poverty and inequality remain widespread, with about a quarter of the population unemployed and living on less than US$1.25 a day.[15][16] Nevertheless, South Africa has been identified as a middle power in international affairs, and maintains significant regional influence. Economy
South Africa has a mixed economy, the largest in Africa in terms of both nominal GDP (at $375.944 billion) and GDP at purchasing power parity (at $608.804 billion). It also has a relatively high GDP per capita compared to other countries in Sub-Saharan Africa ($11,750 at PPP as of 2012). Despite this, South Africa is still burdened by a relatively high rate of poverty and unemployment, and is also ranked in the top 10 countries in the world for income inequality,measured by the Gini coefficient. Unlike most of the world's poor countries, South Africa does not have a thriving informal economy; according to OECD estimates, only 15% of South African jobs are in the informal sector, compared with around half in Brazil and India and nearly three-quarters in Indonesia. The OECD attributes this difference to South Africa's widespread welfare system. World Bank research shows that South Africa has one of the widest gaps between per capita GNP versus its Human Development Index ranking, with only Botswana showing a larger gap. After 1994 government policy brought down inflation, stabilised public finances, and some foreign capital was attracted, however growth was still subpar. From 2004 onward economic growth picked up significantly; both employment and capital formation increased. South Africa is a popular tourist destination, and a substantial amount of revenue comes from tourism.Illegal immigrants are involved in informal trading. Many immigrants to South
Africa continue to live in poor conditions, and the immigration policy has become increasingly restrictive since 1994.[104] Principal international trading partners of South Africa—besides other African countries— include Germany, the United States, China, Japan, the United Kingdom and Spain. The South African agricultural industry contributes around 10% of formal employment, relatively low compared to other parts of Africa, as well as providing work for casual labourers and contributing around 2.6% of GDP for the nation.[106] Due to the aridity of the land, only 13.5% can be used for crop production, and only 3% is considered high potential land.[107]
