Economy of South Africa

The economy of South Africa is the second largest in Africa, after Nigeria. South Africa is an upper-middle-income economy. South Africa's Gross Domestic Product almost tripled to peak at $400 billion in 2011. South Africa has a Population of 58,775,022 (2019 est.). the currency of south Africa is in South African rand and the Main industries are mining (South Africa is the world's largest producer of platinum).

In 2023, South Africa faces persistent electricity supply constraints, poor governance of state-owned enterprises, and a slowing global economy. Ongoing challenges in freight rail, such as frequent derailments, a shortage of locomotives, and cable thefts, are also hampering the economy. The trade deficit has worsened due to falling export prices and rising import prices.

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