Thursday, January 7, 2010
South Africa Gross Domestic Product (GDP) contracted 2.10% over the last 4 quarters. The South Africa Gross Domestic Product is worth 277 billion dollars or 0.45% of the world economy, according to the World Bank. South Africa has a two-tiered economy; one rivaling other developed countries and the other with only the most basic infrastructure. It is therefore a productive and industrialized economy that exhibits many characteristics associated with developing countries, including a division of labor between formal and informal sectors and an uneven distribution of wealth and income. The primary sector, based on manufacturing, services, mining, and agriculture, is well developed.