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Author Topic: Why is South Africa listed as a newly industrialized country?  (Read 202 times)

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Atreygutten

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Why is South Africa listed as a newly industrialized country?
« on: November 27, 2020, 04:30:27 PM »
Their GDP(PPP)is lower than Vietnam and their GD(nominal)is a bit higher, but not by much.

South Africa:
GDP(PPP)=711 billion
GDP(PPP)per capita=11,911

GDP(nominal)=283 billion
GDP per capita=$4,736

Vietnam:
GDP(PPP)=770,227 billion
GDP(PPP)per capita=$8,066

GDP(nominal)=261,637 billion
GDP per capita=$2,740

https://en.wikipedia.org/wiki/Vietnam
https://en.wikipedia.org/wiki/South_Africa


If we compare to these numbers, Vietnam should have been listed as a newly industrialized nation as well?

Droombv

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Re: Why is South Africa listed as a newly industrialized country?
« Reply #1 on: November 27, 2020, 04:43:44 PM »
Their GDP(PPP)is lower than Vietnam and their GD(nominal)is a bit higher, but not by much.

South Africa:
GDP(PPP)=711 billion
GDP(PPP)per capita=11,911

GDP(nominal)=283 billion
GDP per capita=$4,736

Vietnam:
GDP(PPP)=770,227 billion
GDP(PPP)per capita=$8,066

GDP(nominal)=261,637 billion
GDP per capita=$2,740

https://en.wikipedia.org/wiki/Vietnam
https://en.wikipedia.org/wiki/South_Africa


If we compare to these numbers, Vietnam should have been listed as a newly industrialized nation as well?


Good question, I've been wondering too. Perhaps our resident economic whiz kid 'Guess' could explain this to us.

Offline Guess

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Re: Why is South Africa listed as a newly industrialized country?
« Reply #2 on: November 27, 2020, 04:45:28 PM »
Their GDP(PPP)is lower than Vietnam and their GD(nominal)is a bit higher, but not by much.

South Africa:
GDP(PPP)=711 billion
GDP(PPP)per capita=11,911

GDP(nominal)=283 billion
GDP per capita=$4,736

Vietnam:
GDP(PPP)=770,227 billion
GDP(PPP)per capita=$8,066

GDP(nominal)=261,637 billion
GDP per capita=$2,740

https://en.wikipedia.org/wiki/Vietnam
https://en.wikipedia.org/wiki/South_Africa


If we compare to these numbers, Vietnam should have been listed as a newly industrialized nation as well?


it's subjective. Phili is a little above VN is considered NIC. It's a category they make up for these countries so they can categorized income tier maybe,

I'm confused why do you have two figures for GDP per capita?

Atreygutten

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Re: Why is South Africa listed as a newly industrialized country?
« Reply #3 on: November 27, 2020, 05:03:29 PM »
it's subjective. Phili is a little above VN is considered NIC. It's a category they make up for these countries so they can categorized income tier maybe,

I'm confused why do you have two figures for GDP per capita?

One is PPP and the other the normal GDP. You can see it for yourself on the wiki links. I just wrote down the numbers from there.

Offline Guess

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Re: Why is South Africa listed as a newly industrialized country?
« Reply #4 on: November 27, 2020, 05:11:01 PM »
no this is my question: why you have $8066 and 2740. What's the difference?

Vietnam:
GDP(PPP)=770,227 billion
GDP(PPP)per capita=$8,066

GDP(nominal)=261,637 billion
GDP per capita=$2,740

Atreygutten

  • Guest
Re: Why is South Africa listed as a newly industrialized country?
« Reply #5 on: November 27, 2020, 05:14:04 PM »
no this is my question: why you have $8066 and 2740. What's the difference?

Vietnam:
GDP(PPP)=770,227 billion
GDP(PPP)per capita=$8,066

GDP(nominal)=261,637 billion
GDP per capita=$2,740

So the power purchase parity of $8,066 is not so important than the nominal GDP per capita?

Offline Guess

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Re: Why is South Africa listed as a newly industrialized country?
« Reply #6 on: November 27, 2020, 05:21:14 PM »
So the power purchase parity of $8,066 is not so important than the nominal GDP per capita?

OK then the $8066 is the more important number? That's the number I used anyway.

 
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