South Africa is world’s largest producer of gold, platinum and chromium. Major part of the commodities that are exported from South Africa are gold and other minerals which account for half of the total export and remaining commodities include food and chemicals. Significant trade allies to which South Africa exports these commodities are Italy, Japan, United State, Germany, United Kingdom and Hong Kong. Around 10% of the total landmass is arable.
Main commodities which are being imported to South Africa from its trade allies heavily include machinery, chemicals and transport equipment. These three commodities account for around 60% of the total import. Import partners of Africa include the lists of Germany, United State, Japan, United Kingdom and Italy.
Extreme level of Inequality and disparity in income is most hitting and striking aspect of the country. On the one hand, a chunk of population enjoys higher standard of living, on the other a big portion of population can be seen spending life on the poverty pattern of Third World. Unemployment is high due to slow rate of economic growth.
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