South Africa Economy

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Chapter | Country Profile from The Report: South Africa 2012

This section outlines South Africa’s history, culture, geography and economy.

South Africa lies on the southern tip of Africa, occupying 1.22m sq km with some 2800 km of coastline along the Atlantic and Indian Oceans. The so-called “Rainbow Nation” has a population of around 50.5m and is a melting pot of ethnicities, cultures and languages that reflect its rich and tumultuous history.

The economy is expected to post modest but steady growth in 2012, though to what degree GDP will expand is partly dependent on three key issues: the country’s credit rating, how quickly the government can begin rolling out its high-profile infrastructure programme and how South Africa’s major export markets fare over the next 12 months.
Having posted mixed results in 2011, South Africa’s economy was buoyed by rising demand for commodities and solid growth at home, while continued high unemployment, concerns over the European debt crisis and a slowdown in many of the country’s main trading markets saw a pessimistic close to the year.
South Africa has unveiled a blueprint for economic recovery, with increased funding to support industry, job creation and a much-needed boost for infrastructure, although marginal rises in inflation and exogenous instability may hamper the ability of the government to provide any immediate palliatives.
Containing key information about the Country, this chapter will introduce you to OBGs coverage of South Africa and give you an overview of the region.

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