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Development of agricultural output of South Africa in 2015 US$ since 1961 A windpump on a farm in South Africa.. Agriculture in South Africa contributes around 5% of formal employment, relatively low compared to other parts of Africa and the number is still decreasing, [1] as well as providing work for casual laborers and contributing around 2.6 percent of GDP for the nation. [2]
The first evidence of pottery and agriculture in South Africa can be found in the period of 350-150 BCE, while metals date back to the 52-252 CE period. [4] The earliest occurrence of cattle farming was in the 5th century CE and the Iron Age reached modern-day Kwa-Zulu Natal around 700 CE.
Countries in Africa are sorted according to data from the International Monetary Fund. [1] The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency . [ 2 ]
Although the natural resource extraction industry remains one of the largest in the country with an annual contribution to the GDP of US$13.5 billion, [35] the economy of South Africa has diversified since the end of apartheid, particularly towards services. In 2019, the financial industry contributed US$41.4 billion to South Africa's GDP. [36]
Although this only represents 12.4% of the total land used for agriculture in South Africa, the Western Cape produces 55% to 60% of South Africa’s agricultural exports, valued at more than R7 billion [50] (US$1 billion) [51] a year. In 2008, the sector was also one of the fastest growing of the economy, expanding by 10.6%. [37]
Real GDP can be used to calculate the GDP growth rate, which indicates how much a country's production has increased (or decreased, if the growth rate is negative) compared to the previous year, typically expressed as percentage change. The economic growth can be expressed as real GDP growth rate or real GDP per capita growth rate.
Animal husbandry in South Africa has a long history which greatly predates European colonization. [1] [2] [3] Nguni people who migrated to the area brought cattle with them and Khoisan people had been raising indigenous varieties of sheep for thousands of years. European settlers introduced new varieties of livestock, many of which have become ...
At the bottom of the list, South Africa had a growth rate of 0.1% while Equatorial Guinea’s economy had receded with a rate of -1.8%. World Bank estimates for 2022 presented a different picture, with Niger leading economic growth at 11.5%, South Sudan receding at a rate of -10.8% and the continent as a whole seeing an average of 4.2% growth. [3]