South Africa

Trevor Schornack

Overall Score: 62.6

World Ranking: 72nd

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South African Facts

Population: 52.98 Million/316.4 Million

GDP: 350.6 Billion USD (2013)/16.8 Trillion

GDP Growth: 1.9%/1.9%

GDP Per Capita: 6,617.91 USD/53,101 USD

Unemployment: 25.2%/7.5%

Inflation: 3.90%/1.5%

Foreign Direct Investment: 8.1 BIllion/ 187.5 Billion

7 Major Sources of Economic Progress

Natural Resources

A large part of the way South Africa makes it's money is off of its Natural resources. South Africa has an abundance of mining resources that they use for trade with other countries.

Agriculture

Because of South Africa's Climate, it has a great opportunity for agriculture. The country uses this to their advantage of being able to grow and sell goods all year round.

Manufacturing

The manufacturing industry provides 13.3% of jobs in all of South Africa. With 10% of all manufacturing exports being the automotive industry.

Service Industry

South Africa provides a lot of telecommunication services along with internet.

Business Process Outsourcing

Through time, South Africa has presented itself as successful call center and productive business outsourcing area.

Tourism

Because of its exotic wildlife and environment, South Africa is a very large tourism destination. Things like safaris and cage diving with sharks in cape town are big attractions.

Financial Services

As of 2009, South African stock exchange ranks 18th in the world in terms of total market capitalization.
South Africa: An "Economy In Distress"

Summary

The video talks about South Africa's somewhat struggling economy. It is not the best in the world, but it is still mostly free.

Interesting Facts:

- Cape Town, South Africa has one of the largest Great White Shark populations in the entire world.