Loading...
See More

Finance now SA's biggest sector

Dec 04 2009 08:34 Hennie Duvenhage

Related Articles

West Africa wants SA chemicals

Zuma warns of further job cuts

Firms divided on 2010

Consumer confidence perks up

SA gives credit thumbs down

 

Cape Town - The financial services sector's contribution to the country's GDP in 2008 was 22%, the manufacturing sector's 19%, while government itself added 15%. Last year mining provided 9.5% - its biggest contribution since 1989, when it delivered 9.9%.

This according to a new report by the Institute for Race Relations (SAIRR).

Agriculture kicked in 3.3%, making it the sector with the third-smallest contribution.

According to the SAIRR, the manufacturing sector has traditionally been the biggest contributor, providing 20% or more. It has now been supplanted by the financial services sector which, says the SAIRR, indicates that the country has become a mature economy.

The report also shows that Gauteng's contribution to the country's gross domestic product (GDP) measures no less than 34%, followed by KwaZulu-Natal with 17% and the Western Cape with 14.5%.

Not one of the six remaining provinces contributed more than 10% to South Africa's GDP in 2007. The Northern Cape was the province with the smallest contribution, 2.2%.

- Sake24.com

For more business news in Afrikaans, go to Sake24.com.

NEXT ON FIN24X

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...