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MEC: Gauteng largest contributor

Nov 20 2012 15:38
Sapa
Johannesburg - Gauteng remained the largest contributor to the economy, contributing at least 35% to the country's Gross Domestic Product last year, Finance MEC Mandla Nkomfe said on Tuesday.

"Gauteng generated 35.6% or an estimated R675bn of the GDP last year, consolidating its position as a single largest contributor to the economy of the country," Nkomfe said while presenting the 2012 Provincial Economic Review and Outlook in the legislature.

The publication is produced by the treasury and outlines the make-up of the province' economy and its outputs.

The City of Johannesburg (CoJ) generated R313bn in 2011. It was followed by the City of Tshwane with R184bn. Ekurhuleni generated R128bn.

The City of Johannesburg was the fastest growing municipality in the country.

"The CoJ economy grew at an average annual growth rate of 4.4% between 1997 and 2011. Ekurhuleni grew by three percent during the same period."

The economy in the West Rand was the most sluggish, with an average annual growth rate of 0.1%, while Sedibeng's average annual growth rate during the same period was 1.4%.

Gauteng accounted for 68% of all exports from the country and 61.4% of imports.

"The data suggests that Gauteng is able to generate more money from abroad than any other province."

China was the province' biggest trading partner.

"Last year under 15% of exports went to China from Gauteng and just over 15% of imports came from that country."

Imported goods included computers, electrical apparatus and components for telephones and printers.

The province was also one of the biggest economic hubs in the continent, having contributed 7.7% to Africa's GDP last year.

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