Listing ship demands that Cyril Ramaphosa grabs the wheel
Difficulty of doing business, corruption and little trust in the government have crushed private enterprise
In considering the dire state of SA’s economy, it should be noted that, for a developing economy, the country is in some ways highly developed. Services dominate and manufacturing is just 13% of the economy. Agriculture, taking up 80% of our land mass, generates just 2% of GDP, yet it is an important employer.
Generally, unemployment in SA is endemic, shameful, and still rising. Broad unemployment, including those willing to work but who have given up trying to get employment, is more than 40%. GDP per capita, one of the better measures of a nation’s wealth, is just $6,000 in SA. This compares with about $65,000 in the US, $85,000 in Switzerland and $145,000 in Lichtenstein, the world’s richest nation. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.