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. 

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. 

Following the spread of the COVID-19 epidemic in the country, the nation has declared a "national state of disaster". The government of the country has also put a number of travel restrictions to lower the spread of the coronavirus within the country. South Africa is one of the major economies in the Southern Africa region and also contributes significantly to the overall export scenario of the region. Thereby, the imposition of lockdown and border closures will have negative consequences not only travel and tourism sector and cargo flows, but also for traders. This is expected to hamper the operation of businesses, thereby, posing a considerable negative impact on the country’s economy. The report also studies some of the companies that are operating and contributing towards the economy of the country. Some of these companies include Anglo American PLC, Anheuser Busch Inbev, British American Tobacco PLC, Compagnie Financiere Richemont SA, Glencore PLC, Naspers Ltd., and several others. 

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the South Africa economy. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior, and macro-economic factors. The report includes an analysis of the effect of COVID-19 on the South Africa economy and major verticals in the country. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of the pre and post COVID-19 impact on the South Africa economy.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the South Africa economy.
• Insights about market determinants that are stimulating South Africa's economy.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.