• Trade Opportunities

Trade Opportunities

As one of largest economies in Africa, South Africa is a major power and world leader in the production and export of minerals, exhibiting convincing manufacturing strengths.

Sound economic and social policies have ensured the international re-integration of the economy and the creation of an environment conducive to sustained export growth and healthy net capital inflows. South Africa is numbered in the top seven best-performing economies in the world and is ranked third in terms of industrial production growth.

Since the dawn of democracy, South Africa’s Gross Domestic Product has grown at almost 3% per annum. In spite of the prevailing unpredictable global economy and operating environment, together with South Africa’s categorisation as an emerging economy, the local economy bounced back to 2,8% in 2010 after plunging to -1,7% in 2009. The recession marked the first drop after 56 quarters of continuous expansion - the longest period of expansionary growth in the history of South Africa.

Key reasons behind this above-average performance included the increasing competitiveness of South African industry and an improvement in the domestic demand for goods and services. Export diversification was also a major factor which contributed to progress, with manufacturing - a dominant and robust sector in this diversified economy - retaining its strength. Other strong sectors include finance and business services, mining, commerce and agriculture, while the tourism industry and attendant conferencing capabilities play an increasingly important role in the development of entrepreneurial activities. Additionally there exists a superior well-developed transportation and communications infrastructure.

Foreign direct investment has multiplied by 21 fold, compared with the previous five years.