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Eastern Cape's economic structure from 1995 to 2014:
Note data is based on 2010 constant prices (effects of inflation removed), and its GDP at basic prices (excluding taxes and subsidies) Let the animation run, or select a year, and pause and resume as you see fit. |
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The Losers:
The Winners:
Interesting to note is the fact that government's contribution to the overall economy of the Eastern Cape has declined significantly from 1995 to 2014. Is this due to the government sector in Eastern Cape becoming more efficient or has the other industries just grown faster than the government sector, thereby reducing the relative size of this sector.
Manufacturing has not lost as much ground in Eastern Cape, as is the case with the South African's animation. The sector in South Africa has lost significant ground over the last 20 odd years. As mentioned in our Economic History Page, South Africa had a very strong manufacturing sector, when our democracy was born, sadly this industry has been declining ever since. Possibly due to our economy being more open (greater trade taking place with rest of world, leading to more goods being imported and less need for local manufacturing).
On the winning side of Eastern Cape's economy is the Finance, Reasl Estate and Business Services sector.
Transport, storage and communications being another winner in terms of relative importance for Eastern Cape's economy. Perhaps the increased used of the harbours in Eastern Cape (due to greater trade with the rest of the world since dawn of democracy) contributed to this. Both East London and Port Elizabeth harbours are used extensively for the import and export of vehicles.
- Government
The Winners:
- Finance, Real Estate and Business Services
- Transport and Communications
Interesting to note is the fact that government's contribution to the overall economy of the Eastern Cape has declined significantly from 1995 to 2014. Is this due to the government sector in Eastern Cape becoming more efficient or has the other industries just grown faster than the government sector, thereby reducing the relative size of this sector.
Manufacturing has not lost as much ground in Eastern Cape, as is the case with the South African's animation. The sector in South Africa has lost significant ground over the last 20 odd years. As mentioned in our Economic History Page, South Africa had a very strong manufacturing sector, when our democracy was born, sadly this industry has been declining ever since. Possibly due to our economy being more open (greater trade taking place with rest of world, leading to more goods being imported and less need for local manufacturing).
On the winning side of Eastern Cape's economy is the Finance, Reasl Estate and Business Services sector.
Transport, storage and communications being another winner in terms of relative importance for Eastern Cape's economy. Perhaps the increased used of the harbours in Eastern Cape (due to greater trade with the rest of the world since dawn of democracy) contributed to this. Both East London and Port Elizabeth harbours are used extensively for the import and export of vehicles.