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Stats SA has released some fascinating information about which province is South Africa’s economic powerhouse. Using Gross Domestic Product (GDP) data, the government-run organisation was able to assess South Africa’s provinces against one another in terms of sheer economic clout. Here’s how they rate …
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SOUTH AFRICA’S ECONOMIC POWERHOUSE
Due to issues related to the COVID-19 pandemic, this is in fact the first time SA’s nine provinces have been rated by Stats SA in the last two years. Based off economic GDP data from 2022, Stats SA has delineated the following drivers of activity, and which is South Africa’s economic powerhouse, reports Business Live.
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NO. 1 – GAUTENG
In an assessment of South Africa’s economic powerhouse provinces, all provinces achieved growth over the last two years. The national average was 1.9% countrywide. However, Gauteng was number 1, posting the highest rate of growth at 2.8%.
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SOUTH AFRICA’S ECONOMIC POWERHOUSE: GAUTENG AND WC KING
On a scale of economic clout, these three provinces account for 63% – very nearly two thirds – of SA’s total GDP. Gauteng is out in front with 33%, Western Cape grabs second with 16%, overtaking KwaZulu-Natal (14%). Perhaps no surprises there that the trio are South Africa’s economic powerhouses in terms of sheer economic GDP.
N.CAPE AND FREE STATE LAGGING
According to the data, the Free State (5%) and Northern Cape (2%) were left lagging behind as far as oerall contributors to South Africa’s GDP.
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REAL ESTATE AND FINANCE DOMINATE
In Gauteng and the Western Cape, the two most powerful provinces, growth was driven by finance, real estate and business services. Gauteng leads with 31%, followed closely by the Western Cape with 30% in these sectors (see graphic below). Impressive considering the disparate populations of each.
FOUR PROVINCES CONTROL MINING
Mining is the largest industry in the Northern Cape, North West, Mpumalanga and Limpopo. Accounting for 30% of GDP in the North West. Home to the world’s largest platinum deposits, mining is responsible for roughly one quarter of GDP in these four provinces.
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TOP SA MANUFACTURING HUBS
Five provinces contribute to South Africa’s manufacturing might. The Western Cape, Eastern Cape, KwaZulu-Natal, Gauteng and Mpumalanga. These five provinces employ 90% of the national manufacturing workforce.
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