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South Africa: Country Insights
South Africa is a country of 51 million people, rich in diverse cultures and natural heritage. Enjoying relative macroeconomic stability and a pro-business environment, South Africa is a logical and attractive choice for U.S. companies to enter Sub-Saharan Africa. The country covers 1.22 million square kilometers and is the world’s largest producer of platinum, vanadium, chromium and manganese.
South Africa is the most advanced diverse and productive economy in Africa. However, its growth does not match that of other African economies. In 2012, its gross domestic product (GDP) grew by 2.5 percent to $409 billion
The mature nature of the South African economy is reflected in the mix of economic sectors:
primary (including agriculture, fishing and mining): 7 percent
secondary (manufacturing, construction and utilities): 20 percent, and
tertiary (trade, transport and services): 73 percent
The U.S. government released the presidential policy directive “U.S. Strategy Toward Sub-Saharan Africa” in June 2012. In support of its implementation, during her November 2012 visit to Johannesburg, Acting Secretary of Commerce Rebecca Blank launched the “Doing Business in Africa” (DBIA) campaign, bringing together resources of various United State government agencies to increase trade and investment opportunities for U.S. businesses in Africa. Visit http://www.mbda.gov/africa for more information on DBIA.
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