The economy of South Africa is the largest in Africa, accounts for 24% of its Gross Domestic Product

Gross domestic product

Gross domestic product refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living....

 in terms of PPP, and is ranked as an upper-middle income economy by the World Bank

World Bank

The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...

, which makes the country one of only four countries in Africa represented in this category (the others being Botswana

Botswana

Botswana, officially the Republic of Botswana , is a landlocked country located in Southern Africa. The citizens are referred to as "Batswana" . Formerly the British protectorate of Bechuanaland, Botswana adopted its new name after becoming independent within the Commonwealth on 30 September 1966...

, Gabon

Gabon

Gabon , officially the Gabonese Republic is a state in west central Africa sharing borders with Equatorial Guinea to the northwest, Cameroon to the north, and with the Republic of the Congo curving around the east and south. The Gulf of Guinea, an arm of the Atlantic Ocean is to the west...

 and Mauritius

Mauritius

Mauritius , officially the Republic of Mauritius is an island nation off the southeast coast of the African continent in the southwest Indian Ocean, about east of Madagascar...

). About a quarter of the population is unemployed and about the same proportion lives on less than US $1.25 a day.

Advanced development is significantly localised around four areas: i.e.