The South African economy is said to be the largest in Africa.It accounts fro 24% of the gross domestic product of the continent. South Africa is ranked together with Botswana, Ga and Mauritius by the World Bank as the countries in the upper middle income economies.
South Africa attributes the success of its economy to agriculture production,mining and manufacturing.
South Africa is one of the largest producers of grapefruit,cereals,maize,castor oil seeds and fibre oil crops. Cereals and grains are South Africa’s most important crop.Maize, in particular is a very important crop as it is a staple food ,and a source of stock feed and it is also exported.Other grains include wheat,sorghum and barley.
The mining industry has been the main driving force behind the history and development of Africa’s most advanced and richest economy.The major minerals are gold,diamonds and platinum.With South Africa’s economy built on gold ad diamond mining,the industry is an important foreign exchange earner,with gold accounting for more that one third of exports.
According to www.southafrica.info, South Africa has developed an established,diversified manufacturing base that has shown its resilience and potential to compete in the global economy.The numerous manufacturing industries that support the economy include the agriprocessing industry,automotive industry,chemical industry,ICT and electronics,metals industry,textiles and the clothing and footwear industry.