If children learn anything about South
Africa in school, more than likely the history books concentrate on
the country's long period of apartheid - or segregation that
favored the Caucasian minority - and the eventual liberation of her
oppressed. We are familiar with Nelson Mandela, Desmond Tutu, and
other noted activists who fought for their people's freedom, and
learning more about the country's economy and political progress
helps gain a better understanding of how South Africans live and
work.
Once a colony of the vast British
kingdom, a condition that fostered the ruling class of the white
minority population, South Africa became a Republic in the early
1960s. However, the end of apartheid happened as recently as the
1990s. Despite these changes made for the benefit of human rights,
South Africa has experienced challenges in lowering unemployment and
decreasing the poverty rate, yet displayed enough of a turnaround to
gain admittance into the BRIC group of emerging market nations in
2010.
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Cape Town Financial District |
Main Exports of South Africa
South Africa is perhaps best known for
its abundant diamond mines, and as such diamonds are one of the
country's biggest exports. Japan, the United States, and Germany
top the list of top trade partners in terms of exports from South
Africa, which also include the following:
Precious Metals: South Africa
is one of the world's largest producers of platinum, gold, and
chromium. The mining industry is perhaps the prime source of labor
and employment in the country, and South Africa's major trade
partners keep up the high demand for these metals.
Avocados: While agriculture
represents a low percentage of the overall industry, South Africa is
one of the world's top exporters of this popular fruit.
Citrus and Deciduous Fruit:
Among the more plentiful fruits grown in South Africa - grapefruit,
tangerines, apples, and grapes.
Wine: Bountiful grape growth has
resulted in a healthy business of wine production in the country as
well. Vintages include Sauvignon Blanc grown on the Constantia estate
and Merlot and Shiraz from the Stellenbosch district.
Wool and Mohair: The United
States in particular has invested millions in South Africa's
growing textile industry. While the nation is close to providing
international traders with a viable alternative to major exporters
like China, South Africa does have an impressive corner in the mohair
market, as it is a top producer and exporter.
Main Imports to South Africa
Rice: With South Africa's
agricultural industry minimal and concentrated on other produce, the
country relies upon trade partners in the United States and China for
grains like rice.
Vegetables: Vegetables from
other countries are also in high demand to maintain optimal nutrition
among the nation's people.
Automobiles: South Africa
imports passenger cars from top trade partners Germany and the United
States, while their domestic automotive industry accounts for ten
percent of their overall exports.
Civilian Aircraft: Passenger
planes and similar equipment are also popular imports.
Machinery: South African's
mining industry requires quality excavation equipment to maintain,
therefore this is an import in high demand.
Today we may associate South Africa
with their diamond industry and the buzzing vuvzela horns that World
Cup fans used in 2010 to cheer their favorite teams, yet as the
country continues to grow economically we are certain to know them
for much more.