South Africa is easily named the richest country in Africa. The standard of living for the whites is extremely high. The GDP reflects the divide in incomes between the whites and other ethnic groups. The whites have a much higher GDP because the whites tend to earn a lot more than black people, and the mixed people are right in the middle in terms of income. The country need to invest in improving their unemployment rate, being up to 25%. Minerals and metal take most of the credit for the income of the country's exports. South Africa is the largest producer of gold and platinum, but they also produce diamonds, chrome, and gold. The industry business is really taking off, which helps with lowering the unemployment rate. Wine and tourism are becoming very important industries. The service industry counts for 2/3 of the work force and 2/3 of the countries GDP. The currency for South Africa is the rand.
Exports |
Imports |
|
|