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South Africa: economy and society


- South Africa: economy and society

- South Africa: large disparities in the country's population

- The great wealth and natural resources of South Africa

- Concentration of wealth in South Africa

- Politics in South Africa

- The sectors of the economy in South Africa: primary, secondary and tertiary sectors

In this content we will talk about the economy of South Africa: what are the peculiarities of the country's market and the strong and crucial points of its economic system? Speaking of the South African economy, we can first of all say that the latter is in some ways similar to the economy of developed countries, while in other respects it does not differ too much from the economy of third world countries. Let's try to clarify.

South Africa: large disparities in the country's population

South Africa is the country of great social disparities, which affect its citizens. The differences are particularly marked in terms of lifestyles, jobs, wages, career opportunities and education. The country can certainly boast an industrialized and modern economy in urban contexts, but also in most of the country a purely agricultural and non-subsistent economy, in some ways very similar to the systems that characterized the nineteenth century.

Unfortunately, large sections of the population still live in a state of absolute poverty in South Africa; however, compared to other African countries, South Africa appears to come from another continent.

The great wealth and natural resources of South Africa

Generally we can say that the success of the South African economy is mainly determined by the great natural resources present on the territory of the country. The availability of cheap labor is another factor that makes South Africa's economy even more prosperous and attractive.

To understand the great potential of South Africa's economy, just think that the country is responsible for the production of 50% of all energy produced on the African continent, 40% of all industrial goods, and 45% of mineral products. . South Africa is also the largest exporter of agricultural products.

Concentration of wealth in South Africa

65% of South Africa's gross domestic product is made in Gauteng, where most of the wealth is concentrated. Gauteng also produces no less than 25% of the continental gross domestic product.

Politics in South Africa

With the end of the terrible apartheid period, which was followed by the introduction of universal suffrage in the early 1990s, the strongest and most representative political party began to be the African National Congress - ANC, a political force divided into various currents.

In the general elections of April 27, 1994, the ANC won over the National Party (the former leading party of whites living in the country) and the Inkatha Freedom Party (the leading party of the Zulu).

Even today, the political situation translates into a country that remains fragmented and divided: the scars of the long period of division and racial segregation still remain visible. Today the black population has much of the political power, while the white population controls the economy. The ANC party has the ambition to pass new laws that should allow the black population to also dispose of a considerable part of the economic and financial power.

From a socio-political point of view, the biggest problems in South Africa are still represented by a very high rate of unemployment, by large crimes of crime and not least by a constant increase in the spread of HIV / AIDS. Fortunately, starting from 2009 the health situation in the country is gradually improving. HIV and AIDS are increasingly being treated with the help of antiviral drugs, while the transmission of HIV between mother and unborn child has halved. Since 2012, a form of national health insurance has been established by the government, so as to be able to guarantee all citizens an essential assistance service.

The sectors of the economy in South Africa: primary, secondary and tertiary sectors

To summarize the economy of South Africa we can say that agriculture contributes 5% of the recorded employment in South Africa - little compared to other African countries, offering mostly occasional jobs. In fact, agriculture contributes to the production of about 2.8% of the national GDP.

As for the secondary sector, manufacturing makes a limited contribution to the South African economy - 13.3% of jobs and 15% of GDP.

South Africa is a country with a great tourist vocation: monthly arrivals, excluding the most rigid period of the pandemic, are always very many. To make South Africa a paradise for international tourism, it is its varied landscape, the endless natural and faunal reserves and the prestigious local wine production.


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