Economic growth is regarded as a positive change in the production level of goods and services by a particular country over a certain time period. Economic growth may be a Nominal growth which is the economic growth that includes inflation, or may be a Real growth, which is nominal growth less inflation.
One of South Africa’s main sources of growth generation is the manufacturing sector, since South Africa’s manufacturing base has been established and diversified so that it show its resilience and the potential to compete globally.
South Africa’s manufacturing sector is dominated by the following industries:
Agriculture industry is dominated largely by cattle and sheep farming which contributes about 4% of the South Africa's gross domestic product (GDP) and also some part of land which is used for growing crops. The most products grown in the farming sector is maize and then followed by wheat, sugarcane and also sunflowers. These goods are then exported to other counties. The South African agriculture food complex is an important trading partner and a reliable and viable investment sector.
The South African government is working towards developing a small-scale farming in an effort to increase job creation. Citrus and deciduous fruits are exported, as are locally produced wines and flowers. The agriculture food inputs, primary production, and processing contributes about R124 billion to South Africa's Gross Domestic Products, and also employs around 451 000 workers in the formal sector.
The exporting of processed agricultural goods is in the ranges of between R12.8 billion and R17.2 billion per year. The world-class infrastructure, climate conditions, marine resources, and also competitive input costs make the agricultural sector to be a major contributor on the country’s GDP.
The automotive industry is one of South Africa's most important sectors, with many of the major...