INTERNATIONAL BUSINESS AND COMMUNICATION
2010 11 08
Country Briefing: SOUTH AFRICA
In this country briefing I will present South Africa – a country from Sub-Saharan African region. GDP and Growth rate
South Africa experienced a lot of economic downturns since the 1980s. The graph bellow shows South Africa’s GDP growth rate – in 2009 it was -1.8% because of the financial crisis in the world. Since 2007 South Africa has experienced an electricity crisis which led to further economic downturns. The highest downturn since 1980, was in 1992, the GDP growth rate was -2.1% because of the South Africa’s gold mining crisis. The country is in the 147th place in comparison to the world by the GDP growth rate. It is a very low rank. However, now the GDP is growing and is expected to grow in the future. GDP growth rate, Information retrieved from: The IMF Data Mapper,on 19th September 2010 As you can see from the graph bellow, South Africa‘s GDP based on PPP per capita has experienced steady growth since the 1980s until recently. During 2009 South Africa‘s total GDP was $505.3 billion and in comparison to the world by this criteria it is in the 26th place. It is a very high rank and it means that South Africa is doing pretty well based on the goods and services produced in the country. GDP based per capita in 2009 was $10.300 and in comparison to the world it is in the 106th place. The ranki s about in the middle. Curently the GDP based on PPP is stll growng and is expected to grow in the future.
GDP based on PPP, Information retrieved from: The IMF Data Mapper,on 19th September 2010 Fiscal Policy
South Africa’s budget summary
As you can see from the table bellow, South Africa’s revenue during 2009/2010 was 642 990 million but their expenditures exceeded the revenues by 95 573 million so there was a deficit in their budget. During 2010/2011 South Africa’s budget is estimated to be slightly...
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