South Africa’s economy is the second-largest economy in the Africa continent, falling after Nigeria. According to the World Bank, the nominal gross domestic product (GDP) of the country was $368 billion in 2018. South Africa is considered to be the most industrialized and diversified economy among other economies of the African continent. State-owned enterprises play a vital role in the country’s economy. South African strong banking sector is rated as the positive feature of the country’s economic growth. Moreover, the country is the only African member of the G20 group. In the Africa continent, the country has gained a comparative advantage in the production of agriculture, mining, and manufacturing products.

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The report analyzes the impact of COVID-19 on the South African economy and its major verticals. South African economy is extensively diversified with key sectors such as mining, agriculture and fisheries, automobile manufacturing and assembly, food processing, clothing and textiles, telecommunication, energy, financial and business services, real estate, tourism, transportation, and wholesale and retail trade. Further, the country trades many commodities across the globe with European countries and China is the main trading partner and the country’s total trade value of goods and services equals nearly 60% of the GDP. Therefore, the tumbling global scenario due to the COVID-19 outbreak, which has put nations under lockdown, is likely to have a negative impact on the South African economy.

A full report of Impact of COVID-19 on South Africa Economy Market is available at: https://www.omrglobal.com/industry-reports/impact-of-covid-19-on-south-africa-economy

Major Verticals Affected

Metals and Minerals

IT & Telecom

Pharmaceutical

Automobile

Others (BFSI, Food & Beverages, and so on)

Company Studied

Anglo American PLC

Anheuser-Busch InBev SA/NV

British American Tobacco PLC

Compagnie Financiere Richemont SA

FirstRand Ltd.

Glencore PLC

Naspers Ltd.

Standard Bank Group Ltd.

BHP Group PLC

Vodacom Group Ltd.

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