South Africa is the southernmost country on the African continent. It has a long history of conflict and human rights issues but it has always been one of the most economically prosperous nations in southern Africa due to its coastal location and the presence of gold, diamonds and natural resources.
By the 14th century C.E, the region was settled by the Bantu people who migrated from central Africa. South Africa was first inhabited by Europeans in 1488 when the Portuguese arrived at the Cape of Good Hope. However, permanent settlement did occur until 1652 when the Dutch
In following years, French, Dutch and German settlers began to arrive in the region.
by the end of the 18th ...view middle of the document...
2 percent in the second quarter.
This poor outcome was attributable to a moderation in real Gross Domestic Expenditure (GDE), which slowed from an annualised rate of 2.7 percent q/q in Q2 to 1.9 percent in Q3.
Growth in household consumption expenditure, which grew by 4.9 percent in 2011 and by 3.5 percent in 2012, slowed to an annualised rate of 2.3 percent q/q in Q3 from 2.8 percent in Q2 – this is the slowest rate of increase. Policy makers have identified the need to manage natural resources to maximise development and employment.
POLITICS – това не знам дали да го включим ?
South Africa is aparliamentary republic, although unlike most such republics thePresident is bothhead of stateand head of government, and depends for his tenure on the confidence of Parliament. The executive, legislature and judiciary are all subject to the supremacy of the Constitution, and the superior courts have the power to strike down executive actions and acts of Parliament if they are unconstitutional.
South Africa's Economy
South Africa has a growing market economy with a plethora of natural resources. Gold, platinum and precious stones such as diamonds account for nearly half of South Africa's exports. Auto assembly, textiles, iron, steel, chemicals and commercial ship repair also play a role in the country's economy. In addition agriculture and agricultural exports are significant to South Africa.
South Africa has developed an established, diversified manufacturing base that has shown its resilience and potential to compete in the global economy. The manufacturing sector provides a locus for stimulating the growth of other activities, such as services, and achieving specific outcomes, such as employment creation and economic empowerment.
Agriculture contributes 4% to South Africa's gross domestic product (GDP) and consists largely of cattle and sheep farming, with only 13% of land used for growing crops. Maize is most widely grown followed by wheat, oats, sugar cane and sunflowers. The government is working to develop small-scale farming in efforts to boost job creation.
The South African agri-food complex has a number of competitive advantages, making it both an important trading partner and a viable investment destination. A world-class infrastructure, counter-seasonality to Europe, vast biodiversity and marine resources, and competitive input costs make the country a major player on the world's markets. The establishment of preferential trade agreements, such as the Africa Growth and Opportunity Act (AGOA) for the US market and a free trade agreement with the European Union, confer generous benefits.
The automotive industry is one of South Africa's most important sectors, with many of the major multinationals using South Africa to source components and assemble vehicles for both the local and international markets. The South African automotive and components industry is growing rapidly and is perfectly placed for investment...