This diamond is a rock upon which the future success of South Africa will be built," said a colonial official when diamonds were first discovered in South Africa in 1867. He was half right. Gold is South Africa's other great resource. The city of Johannesburg lies directly above the world's largest gold fields, which produce 70 per cent of the world's gold. South Africa also produces a large proportion of the world's platinum, manganese, chrome and aluminium.

With the collapse of apartheid, and the end of trade sanctions, South Africa's industries are now able to compete in world markets. South Africa has the most developed industrial economy in Africa, which accounts for 40 per cent of national output. It should be in a good position to trade with surrounding African countries. But it still suffers from the years of decline before the political system changed, and constant labour problems. Productivity is low and costs are high.

Farming is big business in South Africa. A quarter of the country is desert and 60 per cent of it can only be used for grazing animals, but the remaining land is highly productive. Farming is still dominated by white landowners. Agricultural exports are now booming, helped by the fact that harvests take place in the northern hemisphere winter. South African fruit reaches Europe when prices are high and there is no local competition.

“In the English Speaking World”