In the same period, foreign exchange reserves increased from US$3 billion to nearly US$50 billion, creating a diversified economy with a growing and sizable middle class, within two decades of ending apartheid. ![]() It has since declined to roughly US$317 billion in 2021. Following 1996, at the end of over twelve years of international sanctions, South Africa's Gross Domestic Product (nominal) almost tripled to its current peak at US$416 billion in 2011. South Africa is an upper-middle-income economy, one of only eight such countries in Africa. ![]() The economy of South Africa is the third largest in Africa and the most industrialized, technologically advanced, and diversified economy in Africa overall. All values, unless otherwise stated, are in US dollars.
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