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Western 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 Western Cape has declined significantly from 1995 to 2014. Is this due to the government sector in Western Cape just being extremely efficient or has the other industries just grown faster than the government sector, thereby reducing the relative size of this sector.
Manufacturing, as was the case with the South African's animation has shown a steep decline over the years. The sector has lost significant ground over the last 20 odd years in South Africa. 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 Wester Cape's economy is the Finance, Reasl Estate and Business Services sector. A few reasons for this can be mentioned, Extremely strong property sector, with demand for properties in the province being strong. A large number of asset managers and investment manager's are based on the province. Allan Gray, PSG, Capitec, Old Mutaul, Coronation to name but a few have strong presence in the province.
Transport, storage and communications being another winner in terms of relative importance for Western Cape's economy. Perhaps the increased used of the Cape Town Harbour (due to greater trade with the rest of the world since dawn of democracy) contributed to this. As well as increased use of Cape Town's International Airport. All adding to greater contribution of this industry to Western Cape's economy.
- Manufacturing
- 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 Western Cape has declined significantly from 1995 to 2014. Is this due to the government sector in Western Cape just being extremely efficient or has the other industries just grown faster than the government sector, thereby reducing the relative size of this sector.
Manufacturing, as was the case with the South African's animation has shown a steep decline over the years. The sector has lost significant ground over the last 20 odd years in South Africa. 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 Wester Cape's economy is the Finance, Reasl Estate and Business Services sector. A few reasons for this can be mentioned, Extremely strong property sector, with demand for properties in the province being strong. A large number of asset managers and investment manager's are based on the province. Allan Gray, PSG, Capitec, Old Mutaul, Coronation to name but a few have strong presence in the province.
Transport, storage and communications being another winner in terms of relative importance for Western Cape's economy. Perhaps the increased used of the Cape Town Harbour (due to greater trade with the rest of the world since dawn of democracy) contributed to this. As well as increased use of Cape Town's International Airport. All adding to greater contribution of this industry to Western Cape's economy.
Data disclaimer:
Constant 2010 prices (I.e prices adjusted for inflation and values expressed in terms of 2010 prices) are used to determine the relative contribution of each industry. The contribution of each industry is calculated as the percentage contribution of that industry to the total of all industries for the specific year in question. Feel free to contact us for further information.
Data Source: Statistics South Africa.
Constant 2010 prices (I.e prices adjusted for inflation and values expressed in terms of 2010 prices) are used to determine the relative contribution of each industry. The contribution of each industry is calculated as the percentage contribution of that industry to the total of all industries for the specific year in question. Feel free to contact us for further information.
Data Source: Statistics South Africa.