With a population of 56 million and a gross domestic product (GDP) of 280.4 billion USD, South Africa is a proven entry market for Bavarian companies in the Southern African Development Community (SADC) region, and also acts as the most important trading partner for many SADC countries. The SADC is the development community of southern Africa, which is comprised of 15 countries with a total population of 300 million on approximately 10 million square kilometres. Bilateral trade between Germany and South Africa experienced a record year in 2015, when the trading volume rose to 15.5 billion euros.
Mining makes up the largest contribution to South Africa’s GDP (2014: 25.4%). South Africa and many other SADC countries have a large stock of mineral resources, including metals such as copper, gold and platinum, as well as diamonds, coal, gas deposits, etc.
Tourism is also a notable economic sector.
South Africa's construction industry is booming due to the demand for the construction of multi-storey housing. Over time, opportunities for green building should become available.
South Africa’s most important trading partner is the People’s Republic of China.
In recent years and decades, the historically close ties between South African and German companies have proven to be extremely resilient. Cooperation in the areas of automotive and parts manufacturing, medical technology, machinery and equipment has been developed and expanded.