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Although the natural resource extraction industry remains one of the largest in the country with an annual contribution to the GDP of US$13.5 billion, [37] the economy of South Africa has diversified since the end of apartheid, particularly towards services. In 2019, the financial industry contributed US$41.4 billion to South Africa's GDP. [38]
They envision a dynamic, industrial and globally competitive economy, that is inclusive, offers decent employment and equity. [1] Previously known as the Department of Trade and Industry (the dti) this department, within the South African government, is responsible for commercial policy and industrial policy.
The Kingdom of Mapungubwe (c.11th – 13th century CE) was a medieval state in South Africa located at the confluence of the Shashe and Limpopo rivers. This saw the beginnings of South Africa's gold and ivory trade [5] [6] and the production of jewelry and art.
The economy of Africa ... The manufacturing sector is small but growing in East Africa. [181] The main industries are ... South Africa has attracted ...
The economy of the Western Cape in South Africa is dominated by the city of Cape Town, which accounted for 72% of the Western Cape's economic activity in 2016. [7] The single largest contributor to the region's economy is the financial and business services sector, followed by manufacturing.
Almost 90% of South Africa's exports to the rest of Africa go to the SADC economies. In 2018, South Africa exported and imported goods to and from the rest of Africa to the value of US$25 billion and US$11.5 billion, respectively. Intra-Africa exports account for 26% of South Africa's total exports and imports for 12% of total imports for 2018.
As South Africa heads into an election year, the potential for political turmoil and social unrest is on the minds of many. Global economic headwinds could easily push the country off-course as it ...
The cities Johannesburg, Midrand and Pretoria, which are all economic powerhouses, and Vanderbijlpark, which is an industrial powerhouse, [10] are all in Gauteng. Gauteng is home to the Johannesburg Stock Exchange, [11] the largest stock exchange in Africa, as well as the head offices of over 140 local and international banks. [7]