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North West'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 big loser in North West's economy is the Mining and Quarrying sector. The sector made up roughly 46% of North West's economy in 1995. That has dwindled down to around 28.9% in 2014. Just showing how hard the province is by the slump in commodities.
On the winning side there is a couple. But we suspect these merelyy gained in importance due to the drop of importance of the Mining and Quarrying sector. Finance, Real Estate and business services showed strong growth. Mostly likely the rapid expansion of Rustenburg contributing to the strong growth of this sector in the province. Trade increased too, as is the case with South Africa as a whole (see South Africa GDP animation). The Trade industry seems to be growing in relative importance as time goes on.
- Mining and Quarrying
- Trade
- Finance, Real Estate and Business Services
- Government
The big loser in North West's economy is the Mining and Quarrying sector. The sector made up roughly 46% of North West's economy in 1995. That has dwindled down to around 28.9% in 2014. Just showing how hard the province is by the slump in commodities.
On the winning side there is a couple. But we suspect these merelyy gained in importance due to the drop of importance of the Mining and Quarrying sector. Finance, Real Estate and business services showed strong growth. Mostly likely the rapid expansion of Rustenburg contributing to the strong growth of this sector in the province. Trade increased too, as is the case with South Africa as a whole (see South Africa GDP animation). The Trade industry seems to be growing in relative importance as time goes on.