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Newsletter 68 – The economics of the economic hub – 23 April 2010

Gauteng, the province in which three of South Africa’s six metropolitans are situated, is the country’s largest source of skills and gross domestic product (GDP). This newsletter provides an overview of the province’s economic activity and performance as published by the Gauteng Treasury.

 

The Gauteng National Treasury released the 2009 Provincial Economic Review and Outlook which details the state and trends of the province’s economy. It is clear from the report that Gauteng is growing in its status as the economic hub of the country.
The province’s contribution to GDP increased from 34% in 2001 to 35% in 2007. This means that more than a third of the country’s GDP can be attributed to Gauteng. The second largest contributor was KwaZulu-Natal at 17%, followed by the Western Cape at 15%. The provinces which contributed the least were Limpopo at 6%, the Free State at 5%, and the Northern Cape at 2%.
The economy is dominated by the tertiary sector (services, trade) which contributes 70% to the province’s economy, followed by the secondary sector (manufacturing, utilities, construction) at 28%. The primary sector (agriculture, mining) only contributed 2%.
The province’s trade activity is the busiest of all the provinces accounting for 64% of the country’s exports and 57% of imports. The largest export category was pearls, precious stones, and metals at 33%. Platinum was the largest contributor in this category at 52%, followed by gold at 34%.
Gauteng has six municipalities which contribute to the province’s regional gross domestic product. The largest contributors were the three metros with the City of Johannesburg contributing the most at 48%, followed by the City of Tshwane at 27%, and the City of Ekurhuleni at 18%. The remaining three district municipalities jointly contributed less than 10%.
-          Nthamaga Kgafela
by nkgafela — last modified 2010-04-23 09:40
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