Economy of South Africa | Fortune of Africa South Africa

Economy of South Africa

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Gross Domestic Product 2012

GDP       $390.9 billion

GDP real growth rate:      2.6%

GDP per capita (PPP):     $11,035

GDP composition by sector

Agriculture: 2.5%

Industry: 31.6%

Services: services 65.9%

Inflation: 5.2%

Currency: South African rand

Business Languages

The commercial languages include the following: Isizulu Isixhosa, Afrikaans and English

Transport

Rail transport in South Africa is the most important element of the country’s transport infrastructure. All major cities are connected by rail, and South Africa’s railway system is the most highly developed in Africa. The South African rail industry is publicly owned, road transport and water transport are the most commonly means of transport used in South Africa.

Energy in South Africa

The major sources of energy in South Africa  include; coal, oil, solid biomass and waste, natural gas, nuclear and hydro power

Challenges in South Africa

  • Unemployment
  • The quality of school education is sub standard
  • Poorly located and inadequate infrastructure limits social inclusion and faster economic growth
  • South Africa’s growth path is highly resource intensive and hence unsustainable
  • The ailing public health system confronts a massive disease burden
  • The performance of the public service is uneven
  • Corruption undermines state legitimacy and service delivery
  • South Africa remains a divided society.

About The Author

John Muhaise-Bikalemesa (JMB), is the founder of Muhaise.com blog and bigdrumassociates.com company. Learn more about him here and connect with him on his social medias below

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