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Where does South Africa rank in inequality?

Where does South Africa rank in inequality?

first among 164 countries
“South Africa… is the most unequal country in the world, ranking first among 164 countries,” the Washington-based institution said Wednesday in a report, Inequality in Southern Africa.

What is the relationship between poverty and inequality in South Africa?

High levels of inequality and low intergenerational mobility act as a brake on poverty reduction and as a result poverty is high for an upper middle-income country. Poverty is consistently highest among black South Africans, the less educated, the unemployed, female-headed households, large families, and children.

Where is poverty in South Africa?

South Africa’s poorest province is the Eastern Cape. The wealthiest province is Gauteng. Around 880,000 of the mostly rural Eastern Cape’s people live in poverty. In Gauteng, a city region with the best opportunities for jobs, some 610,000 people live in poverty.

Where is South Africa standing in the world economy?

33rd largest
South Africa is ranked as the 33rd largest economy in the world, and they rank 37th in terms of GDP per capita.

Why does South Africa have the highest inequality level in the world?

Thirty years after the end of apartheid, “race remains a key factor in South Africa’s high levels of inequality, due to its impact on education and the labor market,” the World Bank said. Ethnicity contributes 41% to income inequality and 30% in education.

Which country has the highest level of economic inequality?

South Africa is the most unequal country of the region: in 2019, the income share of top 10% households is estimated at 65%. Inequality levels seem to have changed very little, on average, over the last decades.

What are the causes of poverty and inequality in South Africa?

Broad-based growth that generates more low-skilled jobs for the unemployed will support inequality reduction. High unemployment is a major factor behind the inequality levels. South Africa’s unemployment rate is significantly higher than in other emerging markets, with youth unemployment exceeding 50 percent.

How inequality is a problem in South Africa?

In South Africa, the richest 10% of the population own more than 85% of household wealth, while over half the population have more liabilities than assets, the report showed. That gap is higher than any other country for which sufficient data is available, the group added.

How much of South Africa is in poverty?

55.5 percent
Approximately 55.5 percent (30.3 million people) of the population is living in poverty at the national upper poverty line (~ZAR 992) while a total of 13.8 million people (25 percent) are experiencing food poverty.

Why is poverty so high in South Africa?

South Africa’s poverty is rooted in economic disparities. Much of the nation’s wealth, as it is a moderately wealthy nation, is concentrated in the hands of few, particularly those who controlled wealth in apartheid times.

What is the current state of the South African economy?

South Africa’s real GDP growth was 0.2% in 2019. The pandemic and the containment measures to curb the spread of the virus further damaged the economy. Real GDP contracted by 8.2% in 2020, the result of a decline in construction, transport and communication, manufacturing, and mining.

What is the state of the South African economy?

The South African economy records a positive fourth quarter Real gross domestic product (GDP) grew by 1,2%1 in the fourth quarter (October–December), taking the annual growth rate for 2021 to 4,9%. The fourth quarter was upbeat, with personal services, trade, manufacturing and agriculture the key drivers of growth.