Publisher's Synopsis
The South Africa Country Commercial Guide (CCG) presents a comprehensive look at South Africa's commercial environment, using economic, political and market analysis. South Africa is a country of 51 million people, rich in diverse cultures and natural heritage. Enjoying relative macroeconomic stability and a largely pro-business environment, South Africa is a logical and attractive choice for U.S. companies seeking to enter the sub-Saharan Africa marketplace. The country covers 1.22 million square kilometers and is the world's largest producer of platinum, vanadium, chromium and manganese. South Africa is the most advanced, diverse, and productive economy in Africa. However, its growth does not match that of other African economies. In 2013, its gross domestic product (GDP) grew by 2% to R405.3 billion, equaling a nominal GNI per capita of R73,436. The mature nature of the South African economy is reflected in the mix of economic sectors: primary (including agriculture, fishing and mining): 7% secondary (manufacturing, construction and utilities): 20%, and tertiary (trade, transport and services): 73% The tourism sector has experienced above global average growth, capitalizing on South Africa's natural beauty, wild life reserves and excellent infrastructure. The sector is a major foreign exchange earner, along with minerals, agricultural products and some niche, high-tech sectors. The country's urban areas boast well-developed infrastructure, comparable to OECD standards. Its growing service sector is a major employer, and the private, corporate side of the economy is well-managed, although facing slow productivity gains. The banking and financial services sector is stable and has weathered the worldwide financial crisis well. The Johannesburg Stock Exchange (JSE) ranks among the top emerging market exchanges in the world.
