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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.
Countries in Africa are sorted according to data from the International Monetary Fund. [1] The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency . [ 2 ]
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$11.5 billion, respectively. Intra-Africa exports account for 26% of South Africa's total exports and imports for 12% of total imports for 2018.
As South Africa heads into an election year, the potential for political turmoil and social unrest is on the minds of many. Global economic headwinds could easily push the country off-course as it ...
Rank Company Industry Revenue (US$ billions) Headquarters 1: Sonatrach: Oil and gas: 77.013 Algeria 2: Eskom: Electric utility: 13.941 South Africa 3: Sasol: Chemistry: 12.989 South Africa 4: MTN Group
This list is based on the Forbes Global 2000, which ranks the world's 2,000 largest publicly traded companies.The Forbes list takes into account a multitude of factors, including the revenue, net profit, total assets and market value of each company; each factor is given a weighted rank in terms of importance when considering the overall ranking.