Analysis and Studies - Country Analysis
South Africa: a look at the market
July 18th 2022
South Africa is the southernmost country on the African continent. It shares borders with Namibia, Botswana, Zimbabwe, Mozambique, and Swaziland. From being a British colony to independence, South Africa in the 20th century was sadly known for its apartheid policy. It consisted of racial segregation and kept the native African population separated from the European minority.
The country has gone far beyond its apartheid times. Nowadays, it is a democratic state founded on human rights and equality among all its citizens. Apartheid ended in 1994 with the first democratic election and the victory of Nelson Mandela. Elected as President of the country, Mandela is one of the most iconic figures of the 20th century. A real defender of freedom and peace. Every year on his birthday (July 18th), the United Nations celebrates Mandela Day, an invitation for everyone to change the world for the better.
At least 35 languages are spoken in this territory, of which eleven are official, given the ethnic diversity of the country.
South Africa has the largest stock market in Africa and a developed middle-income emerging economy. Indeed, the financial, legal, communications, energy, and transport sectors are among the most developed on the continent. It is also home to an abundant supply of natural resources such as gold, natural gas, diamonds, and more. In 2020, South Africa's GDP was a total of $680.04 billion, making it the 38th largest economy in the world.
According to the Social Progress Index 2021 (published every year by the Social Progress Imperative, a no-profit organization that ranks countries according to social aspects such as access to basic human needs, general well-being, and opportunities), South Africa is the 70th country in the world for living standards.
The main economic partners of South Africa are the United States, China, Germany, India, the United Kingdom, and Saudi Arabia.
South Africa's major exports are gold ($13 billion), platinum ($11.9 billion), coal briquettes ($6.37 billion), cars ($5.19 billion), and diamonds ($4.75 billion). The main imports are crude petroleum ($5.09 billion), refined petroleum ($3.51 billion), vehicle parts ($2.45 billion), cars ($2.14 billion), and broadcasting equipment ($1.96 billion).
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