What is 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<ref>{{cite web |url=https://issuu.com/oecd.publishing/docs/south-africa-oecd-economic-outlook-june-2023/1|title=Saudi Arabia projection note OECD Economic Outlook June 2023 |work=issuu.com|date=7 June 2023|access-date=27 March 2025}}</ref>. {{Geo-stub}} [[Category:Economy of South Africa| ]]