Stats SA has released some interesting information about which provinces are South Africa's economic powerhouses. Using Gross Domestic Product (GDP) data, this government-run organization was able to measure South Africa's provinces against each other in terms of pure economic influence. Here are their ratings…
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economic powerhouse of south africa
This is the first time in the past two years that SA's nine provinces have been rated by Stats SA due to issues related to the COVID-19 pandemic. Based on 2022 economic GDP data, Stats SA has described the driving forces behind South Africa's economic powerhouse as follows, Business Live reports.
no. 1 – Gauteng
Assessing South Africa's economic powerhouse provinces, all provinces achieved growth in the past two years. The national average was 1.9% nationwide. However, Gauteng was outnumbered and recorded the highest growth rate. 2.8%.
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Gauteng and the king of toilets
These three states dominate the scale of economic influence. 63% This equates to almost two-thirds of SA's total GDP.Gauteng is leading the way. 33%Western Cape takes second place 16%overtaking KwaZulu-Natal (14%). Perhaps it is no surprise that this trio is South Africa's economic powerhouse in terms of net economic GDP.
N.CAPE and Free State Delay
The data shows that the Free State (5%) and Northern Cape (2%) lag behind in terms of their overall contribution to South Africa's GDP.
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Real estate and finance dominate
In Gauteng and the Western Cape, the two strongest provinces, growth was driven by finance, real estate and business services. Gauteng comes first in these areas with 31%, closely followed by the Western Cape with 30% (see chart below). Impressive considering that each has a different population.
Four ministries control mining
Mining is the largest industry in the Northern Cape, North West, Mpumalanga and Limpopo. It accounts for 30% of the northwest region's GDP. Home to the world's largest platinum deposits, mining accounts for about a quarter of GDP in these four states.
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Top SA manufacturing base
Five provinces contribute to South Africa's manufacturing strength. Western Cape, Eastern Cape, KwaZulu-Natal, Gauteng and Mpumalanga. These five states employ 90% of the nation's manufacturing workforce.
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