How Is South Africa A Developed Country ?

How Is South Africa A Developed Country ?

How Is South Africa A Developed Country ? The economy of South Africa is the third largest in Africa and the most industrialized, technologically advanced, and diversified economy in Africa overall. South Africa is an upper-middle-income economy, one of only eight such countries in Africa.

In addition, the country is rich in natural resources and has cheap force labor, making South Africa among the developed countries in terms of strength of the economy until the contribution of the main economic sectors in GDP as follows: industry 31%, agriculture 3% and services 66%.

Is South Africa Richer Than India?

Out of 133 countries ranked by per capita GNP, India ranks as one of the poorest low-income countries, at position 23, above the very poorest. South Africa ranks at position 93, in the group of upper-middle-income countries. South Africa’s per capita income is close to 10 times that of India’s.

Which country owns South Africa?

The country became a fully sovereign nation state within the British Empire, in 1934 following enactment of the Status of the Union Act. The monarchy came to an end on 31 May 1961, replaced by a republic as the consequence of a 1960 referendum, which legitimised the country becoming the Republic of South Africa.

Historical statistics 1980-2017

The following table shows the main economic indicators in 1980–2017. Inflation under 5% is in green.

YearGDP
(in Bil. US$ PPP)
GDP per capita
(in US$PPP)
GDP growth
(real)
Inflation rate
(in Percent)
Unemployment
(in Percent)
Government debt
(in % of GDP)
1980134.74,6316.6 %14.2 %9.2 %n/a
1981155.15,2005.4 %15.3 %9.8 %n/a
1982164.15,362−0.4 %14.4 %10.8 %n/a
1983167.55,331−1.8 %12.5 %12.5 %n/a
1984182.25,6585.1 %11.3 %13,7 %n/a
1985185.85,634−1.2 %16.4 %15.5 %n/a
1986189.65,6200.0 %18.4 %16.0 %n/a
1987198.55,7602.1 %16.2 %16.6 %n/a
1988214.16,0814.2 %12.9 %17.2 %n/a
1989227.76,3312.4 %14.8 %17.8 %n/a
1990235.46,398−0.3 %14.2 %18.8 %n/a
1991240.86,388−1.0 %15.2 %20.2 %n/a
1992241.06,234−2.1 %14.1 %21.2 %n/a
1993249.86,3061.3 %9.7 %22.2 %n/a
1994263.36,4923.2 %8.8 %22.9 %n/a
1995277.26,6903.1 %8.8 %16.5 %n/a
1996294.36,9734.3 %7.4 %20.3 %n/a
1997307.27,1572.6 %8.6 %22.0 %n/a
1998312.17,1610.5 %7.0 %26.1 %n/a
1999324.47,3352.4 %5.1 %23.3 %n/a
2000345.87,7014.2 %5.4 %23.0 %42.2 %
2001363.27,9682.7 %5.6 %26.0 %42.4 %
2002382.48,3273.7 %9.1 %27.8 %35.5 %
2003401.58,6422.9 %5.9 %27.7 %35.4 %
2004431.49,1744.6 %1.4 %25.2 %34.4 %
2005468.79,8475.3 %3.4 %24.7 %33.2 %
2006510.210,5845.6 %4.6 %23.6 %31.3 %
2007551.911,3025.4 %5.4 %23.0 %27.1 %
2008580.711,7353,2 %11.0 %22.5 %26.5 %
2009576.111,486−1.5 %7.1 %23.6 %30.1 %
2010600.811,8163.0 %4.3 %24.9 %34.7 %
2011633.412,2813.3 %5.0 %24.8 %38.2 %
2012659.312,6002.3 %5.6 %24.9 %41.0 %
2013686.612,9302.5 %5.8 %24.7 %44.1 %
2014711.813,2041.8 %6.1 %25.1 %46.7 %
2015728.813,3111.3 %4.6 %25.4 %49.3 %
2016742.213,3450.6 %6.3 %26.7 %51.6 %
2017765.613,5441.3 %5.3 %27.5 %52.7 %

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