R245BN 460 000
Globally, services constitute 70% of GDP while they make up 62% in SA. The country has highly developed service industries, yet McKinsey estimates that it currently captures only 2% of the rest of sub-Saharan Africa’s (SSA) market for service imports, which was worth an estimated R536bn in 2012, growing at an average of 7.1% from 2002 to 2012. In contrast, Brazil – which accounts for a comparable share of GDP in its region – commands a 26% market share in providing service imports to Latin America, according to the report. Service exports from SA to SSA could grow from R10bn in 2012 to R120bn by 2030, the report said.