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Economy of South Africa

South Africa is a upper-middle income country with an abundant natural resources. it has well-developed financial,infrastructure, communications, energy sectors, and a national transportation network which supporting an efficient distribution of goods to major urban centers throughout the region. However, advanced development is significantly localized around four areas: Cape Town, Port Elizabeth, Durban, and Pretoria/Johannesburg. Compared with these four economic centers, development in other regions of the country is just relatively good.

Economy was booming from 2004 to 2007 as South Africa enjoyed the benefits of macroeconomic stability and a robust global commodities prosperity. after the global financial crisis in 2008, its GDP fell nearly 2% in 2009.

BRICS

About the BRICS

In economics, BRICS refers to a group of countries, namely, Brazil, Russia, India and China, four countries with massive potential. They features a similar stage of newly advanced economic development.

The BRIC Leaders