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The world produced $77.9 trillion (R1.08 quadrillion) in 2014 – and South Africa contributed 0.45% to that number.
This is according to the latest GDP data from the World Bank, which updates global data for 2014 across 194 economies.
South Africa is listed as the 33rd biggest economy in the world with a GDP contribution of $349.8 billion (R4.83 trillion), though this is down from $366 billion (R5.06 trillion) in 2013.
South Africa’s GDP contribution has been on a steady decline since 2011, when it peaked at $416.6 billion (R5.76 trillion).
South Africa GDP, 2010 – 2014
As Africa’s largest economy, Nigeria is the 22nd biggest GDP contributor in the world at $568.5 billion (R7.86 trillion).
However, split among its 178.5 million people, the country carries a much lower GDP per capita of $3,185 (R44,027). South Africa has GDP per capita of $6,480 (R89,574).
Biggest economies in the world
The world’s largest economies have remained largely unchanged over the years, with the United States dominating by a large margin with a total GDP of $17.4 trillion (R240.5 trillion).
China also maintains a comfortable second, with GDP at $10.4 trillion (R143 trillion) in 2014, ahead of Japan’s $4.6 trillion (R63.6 trillion), and Germany’s $3.8 trillion (R52.5 trillion).
The top 15 economies in the world account for 71.5% of the world’s total output, totalling $57.75 trillion.
Top 15 economies
|#||Country||GDP, 2014 (US$m)||% of total|
|1||USA||17 419 000||22.4%|
|2||China||10 360 105||13.3%|
|3||Japan||4 601 461||5.9%|
|4||Germany||3 852 556||4.9%|
|5||United Kingdom||2 941 886||3.8%|
|6||France||2 829 192||3.6%|
|7||Brazil||2 346 118||3.0%|
|8||Italy||2 144 338||2.8%|
|9||India||2 066 902||2.7%|
|10||Russian Federation||1 860 598||2.4%|
|11||Canada||1 786 655||2.3%|
|12||Australia||1 453 770||1.9%|
|13||Republic of Korea||1 410 383||1.8%|
|14||Spain||1 404 307||1.8%|
|15||Mexico||1 282 720||1.6%|
|33||South Africa||349 817||0.4%|
In the News:
More on GDP in SA
According to the authority on cannabis in Southern Africa; exchange that has exclusive rights to sell all cannabis produced by the Transkei Estates & Durban Poison Estates, together account for about 90% of all high quality cannabis production.
In order to keep these contract the SA Cannabis Exchange will be launching a number of pot-stats that will be free of charge; even so if the government do not rapidly allow the private sector licence to trade the opportunity to be global leaders is rapidly losing as the window close on yet another opportunity to built around 100 new companies per day.
This is the promise from the private sector. Unfortunately the government is still hiding and blaming as they can always just blame the boers while we all suffer 70% unemployment.
Cannabis (Global) Spot Prices