The South African market is the largest of the African continent and the fourteenth in the world for number of companies, with around 2.570.000.
South Africa has experienced significant economic growth in the last 3 years. That’s the reason why import and export data, which in 2016 had dropped a lot, have now returned to the highest levels ever.
From the above graph, we can see how the Professional, Scientific, and Technical Services is the first sector in the country, with a percentage of 28,85%.
The second biggest sector is the Retail Trade with a percentage of 24,73% and the third one is the Real Estate and Rental and Leasing with 9,62%.
The Professional, Scientific, and Technical Services sector comprises establishments that specialize in performing professional, scientific, and technical activities for others. Activities performed include: legal advice and representation; accounting, bookkeeping, and payroll services; architectural, engineering, and specialized design services; computer services; consulting services; research services; advertising services; photographic services; translation and interpretation services; veterinary services; and other professional, scientific, and technical services.
The Retail Trade sector comprises establishments engaged in retailing merchandise, generally without transformation, and rendering services incidental to the sale of merchandise. The retailing process is the final step in the distribution of merchandise; retailers are, therefore, organized to sell merchandise in small quantities to the general public. This sector comprises two main types of retailers: store and nonstore retailers.
The Real Estate and Rental and Leasing sector comprises establishments primarily engaged in renting, leasing, or otherwise allowing the use of tangible or intangible assets, and establishments providing related services. The major portion of this sector comprises establishments that rent, lease, or otherwise allow the use of their own assets by others.
In light of the above, the economic growth of South Africa underlines that it is an economy that should be taken into consideration if your company is looking for new markets to explore and to invest in.